EUR/USD Challenges ? Major Decision Zone at 1.19 Resistance ?
Dear Traders,
the EUR/USD is testing a key decision zone at 1.19 which will either offer a bullish breakout or bearish reversal. The breakout could see price move above the round level of 1.20 but traders should be warned that false breakouts could occur during the holidays. A daily candlestick with a big wick would confirm a false break. A bearish reversal setup could take price eventually down to 1.1650.
The GBP/USD is still building a bull flag chart pattern and remains a bullish chart as long as price stays above 1.3250. A bullish breakout on the daily chart could take price up to 1.3650 and 1.3750.
Check out the video for the full analysis and trade plans on 21 – 22 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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