? EUR/USD, GBP/USD Analysis & Setups 17-19 May ’18 ?

Dear traders,

the EUR/USD reached a major target at 1.1750 and could be building a bullish wave 4 retracement. The GBP/USD downtrend is in a grey area and could either build a bigger bullish retrace or continue with the bearish trend depending on the breakout.

The EUR/USD bearish bounce at 1.20 and then broke neatly below 1.19 support zone for a downtrend continuation towards 1.1750. This could have completed the 5th wave wihtin a larger wave 3 and hence a retracement back to 1.19-1.20 resistance is possible within wave 4. A break below the bottom could indicate a larger bullish correction.

The GBP/USD consolidation zone is becoming expanded and both a bullish and breakout are possible. A bullish break could indicate a larger bullish within wave 2 whereas a bearish continuation could aim for 1.3350-1.34.

Check out the video for the full analysis and trade plans on 17-19 May 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

Get Free Month of ecs.LIVE

Open Account with Markets.com via ECS.

Learn How to Apply

.