? EUR/USD, GBP/USD Analysis & Setups 16-17 Oct ’18 ?

2 min read

The EUR/USD is expected to complete a bullish wave C either right away after a breakout or after a bearish dip. The GBP/USD is building a critical triangle on the 1 hour chart. Check out our premium offer when trading with XM via ECS.

EUR/USD needs to break above 1.1730 for a bullish breakout whereas 1.1440 is the key support level for a bearish breakout. Otherwise price is expected to move sideways within a range and expand the corrective WXY pattern.

GBP/USD is building an indecision pattern on the 1 hour chart. A bullish breakout could see a reversal at the key resistance zone at 1.3250 whereas a bearish breakout is aiming for 1.3025 and 1.2950 targets.

Check out the video for the full analysis and trade plans on 16-17 Oct 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

See the video below for all of the details

Good trading,
Chris Svorcik
Elite CurrenSea

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