? EUR/USD, GBP/USD Analysis & Setups 5-7 July ’18 ?
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The EUR/USD is showing a strong bullish breakout as expected. Price action remained above the 21 ema with a bullishly alligned HMA. The ascending wedge chart pattern also indicates that a bullish continuation towards 1.18 is possible. The GBP/USD is probably completing a wave C and either building a wave 4 or 5.
The EUR/USD managed to stay above the 21 ema support zone after breaking above it for the 2nd time earlier this week. The bullish price action could see a bullish continuation take place towards the next Fibonacci resistance zone around 1.1775-1.1850.
The GBP/USD also remains bullish and seems to be building a continuation within the wave C towards 1.3275.
Check out the video for the full analysis and trade plans on 5-7 July 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
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