? EUR/USD, GBP/USD Choppy Price Action Almost Complete? ?
Dear Traders,
the EUR/USD downtrend channel is facing a key support zone at 1.22, whereas the GBP/USD will finally decide whether it will bounce or break at the 1.40 round level.
The EUR/USD is building a massive consolidation zone and price could go sideways between support and resistance for a while. Price is now approaching a key support zone which is likely to send price back up again but a bearish break would indicate a larger reversal.
GBP/USD is moving sideways after bouncing at the 1.40 support zone. The support and resistance levels of this sideways range will be key in the direction of the next breakout. A bullish breakout could indicate a last wave 5 whereas a bearish break could lead to a bearish reversal.
Check out the video for the full analysis and trade plans on 5-7 April 2018:
- EUR/USD, GBP/USD, GBP/JPY 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
.
