The EUR/USD has bounced at support and broken resistance as expected but will it be able to continue for a new uptrend? This video shows the key fractals and space that would confirm an uptrend and which levels indicate more downside. The GBP/USD is also at a fragile spot after a strong bullish spike. Make sure to check out our free Wave and Fibonacci guide.
EUR/USD needs to bounce at the 21 ema zone on the 1 hour chart to confirm a bullish BPC (breakout, pullback and continuation) pattern. A failure to bounce could indicate a larger bearish correction towards the support Fibs. The best bullish space is located between wizz level 3 and 5.
GBP/USD seems to have completed 5 bearish waves in wave 1 and the spike could be a wave 2 if price stays below the top at 1.3040.
Check out the video for the full analysis and trade plans on 6-8 September 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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