? EUR/USD, GBP/USD Analysis & Setups 3-4 June ’18 ?

2 min read

Dear traders,

the EUR/USD is ready for a bullish ABC correction as long as price stays above the 1.15 round level. A bullish bounce at the 61.8% or a bullish breakout could send price higher towards 1.1850. The GBP/USD also seems ready for a retracement to 1.35 if price stays above 1.3250.

The EUR/USD bullish retracement could aim for the 21 ema daily chart around 1.1850. How deep the retracement will go depends on the price action at the resistance zone: a strong bearish reaction could send the EUR/USD back into a downtrend whereas corrective price action could indicate a larger bullish retracement. A break below 1.15 offers space for more downside.

The GBP/USD broke above the 21 ema band on the 4 hour chart and is also building a bullish retracement. The bullish pullback could aim for the round level of 1.35 but a break below 1.3250 could revive the old downtrend.

Check out the video for the full analysis and trade plans on 3-4 June 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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