☝️ EUR/USD, GBP/USD Analysis & Setups 26-27 August ’18 ☝️

2 min read

The EUR/USD broke the bull flag chart pattern and is building a 5th wave within the larger bullish ABC. The main target is 1.17. The GBP/USD is a key decision zone and will either confirma a bullish wave 5 or a bearish 3/C depending on the breakout pattern.

EUR/USD broke above the previous top and seems to have completed a wave 4 and is now in a wave 5. This bullish swing is probably a larger wave A and price is expected to make a 3 wave ABC correction within wave B before moving again in wave C.

GBP/USD is retesting the 21 ema zone which is a key bounce of break zone. A bullish breakout would require a pullback and continuation to confirm a wave 5 whereas a bearish break could see a wave 3 or C develop.

Check out the video for the full analysis and trade plans on 26-27 August 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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