? EUR/USD, GBP/USD Analysis & Setups 30-31 August ’18 ?

2 min read

The EUR/USD is testing critical support and resistance levels around the 21 ema zone. A bullish breakout could see a last push towards the target zone at 1.1750 – 1.1775 whereas a bearish break indicates a bearish reversal. The GBP/USD is showing strong bullish momentum and is likely to show a new high as long as it stays above the 50% Fibonacci retracement level. Make sure to check out our free Wave and Fibonacci guide.

EUR/USD has either completed a bullish wave A or will still make one more push towards the key target zone. Once a bearish wave B starts, it is not expected to move deeper than 1.15 where there is a 50% Fib and potential starting point for wave C.

GBP/USD is expected to move up for a higher high after a chart pattern correction. This could complete a wave 5 and a bearish bounce could take place at the main Fibonacci targets.

Check out the video for the full analysis and trade plans on 30-31 August 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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