? EUR/USD, GBP/USD Analysis & Setups 29-30 July ’18 ?

2 min read

The EUR/USD is expected to bounce at the bottom and support of a triangle chart pattern due to the bullish ABC wave pattern. The GBP/USD seems to be be building bearish ABC pattern after completing 5 bullish waves.

The EUR/USD is building a long and choppy range and both a bearish and bullish breakout of the triangle pattern is possible but the bullish break seems to be a slight favourite. In any case, a bullish bounce at the bottom of the triangle is likely to take price back to the resistance trend line for a new bounce or break decision zone.

The GBP/USD seems to have completed 5 bullish waves which is probably wave A of a larger bullish ABC zigzag pattern. Price is now expected to make an ABC pattern in wave B, which could see the development of 2 head and shoulders chart patterns.

Check out the video for the full analysis and trade plans on 29-30 July 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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