? EUR/USD Expects Bullish Bounce ? After Bearish ABC Zigzag

2 min read

Dear Traders,

The EUR/USD is showing bullish momentum but price will probably complete a bearish bounce first via an ABC correction before continuing with the uptrend. A break of the bottom invalidates the uptrend and potential bullish wave 5 and could indicate a bearish wave 3. A bullish continuation would offer 1.24, 1.2475, 1.2525, and 1.2750 as the main bull targets.

The GBP/USD is in a difficult spot and remains stuck between key S&R levels. The Cable will need to break above resistance or below support before a larger trend is possible. In between the S&R levels, a larger bullish bounce is most likely at the moment.

Check out the video for the full analysis and trade plans on 6-7 March 2018:

  • EUR/USD, GBP/USD technical analysis
  • Review of patterns, trends, key S&R levels
  • Explanation of potentrial 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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