? EUR/USD Bearish ABC Zigzag Reaches Key Support Zone ?
Dear Traders,
The EUR/USD is continuing with its bearish momentum via a bearish ABC zigzag pattern and is testing the support zone at 1.22-1.23. Price is expected to complete a bearish wave 4 at this support zone and start a new uptrend within a wave 5 but if price breaks below 1.22 then a new downtrend might emerge.
The GBP/USD is showing a bullish bounce at a key decision zone. A bullish breakout could lead to a potential bullish wave 5 which sees price test the -27.2% and -61.8% Fibonacci targets whereas a bearish break invalidates the uptrend and indicates a potential reversal.
Check out the video for the full analysis and trade plans on 20-21 February 2018:
- EUR/USD, GBP/USD technical analysis
- Review of patterns, trends, key S&R levels
- Explanation of potentrial trade ideas both up and down
- Beginner friendly, explaining concepts in more detail
See the video below for all of the details
Good trading,
Chris Svorcik
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