? Bullish Turn Prepares EUR/USD, GBP/USD for Higher High? ?

2 min read

Dear Traders,

both the EUR/USD and GBP/USD are building a bullish rebound from key support zones. For the EUR/USD its the bigger consolidation zone and for the GBP/USD its a critical 50-6.18% Fib zone of wave 4 around 1.40.

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 8-9 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

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