? EUR/USD, GBP/USD Analysis & Setups 5-6 May ’19 ?

2 min read

Hi Traders, the EUR/USD and GBP/USD both showed strong bullish daily candles on Friday. Chris discusses how both pairs are likely to continue higher next week and how he will tackle potential trade setups.

If you think our videos, analysis and education help you become a better trader, then we would certainly apprecaite your review on Forex Peace Army, thank you!
The EUR/USD showed a big wick at the bottom of Friday’s daily candle despite the bullish data from the US. The downtrend is only likely if price is able to break below the 1.1140-1.1175 support zone. Otherwise a bullish continuation towards 1.13 is likely.

The GBP/USD bull run is even stronger and price will probably aim for 1.3250 once it builds a bull flag or triange chart pattern. The 1.3250 area is a major resistance spot due to the potential head and shoulders reversal chart pattern.

Check out the video below for the full analysis and trade plans on 5-6 May 2019:

  • EUR/USD, GBP/USD technical analysis
  • Review of patterns, trends, key S&R levels
  • Explanation of potential trade ideas both up and down
  • Beginner friendly, explaining concepts in more detail

EUR/USD, GBP/USD video:

Good trading,

Chris Svorcik

Elite CurrenSea

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