? EUR/USD Bullish Momentum Indicates Start of Wave-5 ?
Dear Traders,
The EUR/USD seems to be bouncing at a strong support zone (1.2250) with Fibonacci levels and support trend lines. The bullish reversal is picking up in its momentum and has now broken above the bearish channel and resistance fractals of the 4 hour chart. A bullish breakout above the previous bottom and 38.2% counter Fib at 1.2325 could indicate the completion of the bearish wave 4 and the start of a bullish wave 5. See the video below for the bullish targets.
The GBP/USD is a key bounce or break spot. Price will either break below the support trend line for one more lower or break above the previous bottom for a bullish reversal.
Check out the video for the full analysis and trade plans on 13-14 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
.
