? EUR/USD, GBP/USD Analysis & Setups 30 Sep – 1 Oct ’18 ?

2 min read

The EUR/USD is completing 5 bearish waves within wave A, which is part of a larger ABC zigzag pattern that is aiming for 1.1475-1.15 support zone. The GBP/USD is building a wave 4-5 pattern too, but the GU could finish a wave 1 and retrace for a wave 2 before building an impulsive wave 3. Check out our education & research page at ECS.

EUR/USD could build multiple head and shoulders reversal chart patterns around 1.15-1.17. Ultimately the path of least resistance favours an ABC down, which is part of a wave B and a larger ABC up. Once the bearish ABC is completed, a larger uptrend is expected to start.

GBP/USD seems to have started a long-term downtrend. Price is probably in a wave 1 and could retrace soon for a wave 2. Keep in mind though that the bearish momentum could push price lower for a new low first.

Check out the video for the full analysis and trade plans on 30 Sep – 1 Oct 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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