? EUR/USD, GBP/USD Analysis & Setups 29-30 May ’18 ?
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Dear traders,
the EUR/USD bearish momentum remains strong and could push price down to 1.15 but eventually a retracement is expected to take price back to the 21ema of the daily chart. The GBP/USD is also bearish and will challenge the 1.3250 support zone.
The EUR/USD is close testing a key support zone at 1.1450-1.1550 if price manages to break the bear flag on the 1 hour chart. The current impulse is probably a wave 3 which would indicate the potential for a wave 4 and 5 before the larger bearish wave A is completed and a larger bullish wave B could finally start.
The GBP/USD is building a descending wedge chart pattern which could see price testing a key support zone at 1.3250.
Check out the video for the full analysis and trade plans on 29-30 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
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