EUR/USD Bearish Impulse ? Challenges 1.1725 and 1.1640 Support Zones ?
Dear Traders,
the EUR/USD is showing bearish momentum but the support zones at 1.1725 and 1.1640 could send price back upwards to retest the resistance trend line. A larger breakout is only likely when price breaks above this resistance line at 1.1825 or when price breaks below the bottom at 1.1550 for an expanding correction.
The GBP/USD also offered a strong bearish momentum candle on the daily chart but price will need to break below the support zone before more downside can be expected. A 2nd bullish bounce could see price retest 1.34 again.
Check out the video for the full analysis and trade plans on 17 – 18 December 2017:
- 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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