? EUR/USD, GBP/USD Analysis & Setups 11-12 Nov ’18 ?

2 min read

The EUR/USD downtrend is testing the key support zone at 1.1250-1.13, which is a bounce or break spot. A bullish bounce and wave C is still more likely and the key breakout is above the 21 ema zone and resistance lines. The GBP/USD moved up a lot and is likely to build an ABC zigzag or triangle chart pattern. Check out our ultimate Support & Resistance guide.

The EUR/USD bearish breakout below the support zone is confirmed with a daily candle closes below the 1.13 level. Otherwise price might make a tripple bottom and a bullish reversal which would aim for the 50-61.8% Fib zones around 1.1930-1.2075.

The GBP/USD is also in a downtrend but recent price action is making a triangle pattern more likely unless price manages to show strong bearish candles on the daily chart.

Check out the video below for the full analysis and trade plans on 11-12 Nov 2018:

  • EUR/USD, GBP/USD 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

EUR/USD, GBP/USD video:

Good trading,
Chris Svorcik
Elite CurrenSea

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