? EUR/USD, GBP/USD Analysis & Setups 3-5 May ’18 ?

2 min read

Dear traders,

the EUR/USD, GBP/USD are building bullish pullbacks within the downtrend as long as price stays below the Fibonacci resistance levels. EUR/USD could aim at 1.18 whereas GU at 1.35.

The EUR/USD is likely to continue with the downtrend as long as price stays below the 50% Fib resistance at 1.2075. The downtrend channel is expected to remain intact and a bearish continuation could take price down to the 6th wizz level at 1.1750-1.18.

The GBP/USD downtrend could also be building a bullish retracement and a continuation towards 1.35 is likely as well. However, the 1.35 support zone could become a new critical bounce or break sport and a reversal for a bullish ABC could take place at that spot.

Check out the video for the full analysis and trade plans on 3-5 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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