Hi Traders, EUR/USD showed a strong bearish rejection at the 1.13 resistance zone and is expected to move lower as long as price does not close above 1.1325. The GBP/USD also seems to have completed a bullish wave 4, which could indicate a restart of the downtrend.
Join our 2 week free trial of ecs.LIVE, which started this week and will last till Friday 14 June! Nothing to lose, everything to gain by starting our free trial now.
If you think our videos, analysis and education help you become a better trader, then we would certainly appreciate your review on Forex Peace Army, thank you!
The EUR/USD made a final push higher from 1.1250 to 1.13 before showing an impulsive bearish reversal. Price is now likely to build a head and shoulders reversal chart pattern.
The GBP/USD showed bearish engulfing candlestick pattern on the 4 hour chart which is likely to start a downtrend. Even if price moves up higher, then price is likely to face strong resistance at 1.2775-1.28.
Check out the video below for the full analysis and trade plans on 6-7 June 2019:
Good trading,
Chris Svorcik
Leave a Reply