〽️ EUR/USD, GBP/USD Analysis & Setups 15-16 June ’18 – EXTRA 〽️
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Dear traders,
the EUR/USD, GBP/USD made false bullish breakouts above the bull flag chart pattern and then reversed quickly back down. What are the main retracement levels and targets now that both pairs are in a downtrend?
The EUR/USD bullish breakout and higher high turned out to be a false break. The bearish engulfing twins (and ecs red candle) created a strong bearish impulse that that completed the corrective wave 4 pattern and started wave 5. EUR/USD is aiming for 1.1450 at the moment but could build a retrace later on.
The GBP/USD made a similar false bullish breakout and rebroke below the support trend lines. A break below 1.32 support could see a downtrend continuation towards 1.30.
Check out the video for the full analysis and trade plans on 15-16 June 2018:
- 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
See the video below for all of the details
Good trading,
Chris Svorcik
Elite CurrenSea
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