? EUR/USD, GBP/USD Analysis & Setups 15-16 August ’19 ?
Hi Traders,
the EUR/USD made a bearish break below the triangle and is now aiming for 1.1110 as expected. The GBP/USD is likely to build a bullish correction as part of a wave 4.
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The EUR/USD is bouncing at the 50% Fibonacci level but could move lower to test deeper Fibs of the wave B. Eventually a larger bullish ABC pattern is expected unless bears keep control of the daily candles.
The GBP/USD is could make a bullish breakout as part of an ABC zigzag, which would aim for 1.2150-1.2250 zone. A bearish breakout aims for 1.20.
Check out the video below for the full analysis and trade plans on 15-16 August 2019:
- EUR/USD, GBP/USD technical analysis
- Review of patterns, trends, key S&R levels
- Explanation of potential trade ideas both up and down
- Beginner friendly, explaining concepts in more detail
EUR/USD, GBP/USD video:
Good trading,
Chris Svorcik
