Forex Analysis after NFP Reaction: EUR/USD & GBP/USD
Dear Traders,
The NFP numbers were positive for the US last wek Friday and hence the US Dollar strengthened 150-200 pips on most currency pairs.
Therefore, the GBP/USD continued its decline but also the EUR/USD moved down lower despite its massive uptrend.
- The EUR/USD 700 pip uptrend was unable to break above the round level of 1.20 and the large bearish daily candle makes a larger correction very likely.
- The GBP/USD broke the support of the rising wedge chart pattern and is also expected to continue with the bearish pressure.
See the entry ideas, targets and more in the video below.
Many green pips,
Chris
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