EUR/USD Fails to Break Top ? Bear Reversal or Retracement? ?

2 min read

Dear Traders,

The EUR/USD is failing to break above the previous top at 1.25 but will this lead to a bearish reversal? This video explains that a bullish continuation still has better odds as long as price stays above the critical invalidation level. The bullish trend is most likely building a wave 4 correction, which could indicate a wave 5 continuation towards the -27.2% Fib target at 1.27.

The GBP/USD is building a similar ABC zigzag correction or triangle chart pattern. A bullish bounce above the support zone could indicate a wave 4 pattern as well.

Check out the video for the full analysis and trade plans on 4-5 February 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

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