? EUR/USD, GBP/USD Analysis & Setups 28-29 May ’19 ?

2 min read

Hi Traders, the EUR/USD seems ready to finish a bullish ABC zigzag towards 1.125 unless price breaks and closes below 1.11. The GBP/USD downtrend is strong and expected to continue as soon as the wave 4 pullback is completed.

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The EUR/USD needs break and close above 1.1250 or below 1.11 before a larger downtrend or bullish reversal becomes likely.

The GBP/USD has reached the 23.6% Fibonacci retracement level. Price could either make a correction to the 38.2% Fib or move sideways in the 21 ema and make a breakout below the 21 ema.

Check out the video below for the full analysis and trade plans on 28-29 May 2019:

  • 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

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