The EUR/USD is showing a strong bullish breakout and is now approaching the previous top, which is a key resistance level. Today’s video reviews both the EUR/USD breakout and GBP/USD uptrend that are approaching key decision zones and explains bearish and bullish trade setups based on the breakout direction and price action.
The EUR/USD bullish momentum could be part of a wave 3 of wave 3 pattern. But an uptrend is only possible when price builds a mild correction at the 1.25-1.2550 resistance zone, otherwise the wave 3 pattern could become invalidated. In that case, a large complex and sideways correction could take price back down to 1.2250.
GBP/USD uptrend is strong and has made several key bullish breakouts. But now price is approaching the previous top which is a key resistance zone.
Check out the video for the full analysis and trade plans on 27-28 March 2018: