? EUR/USD, GBP/USD Analysis & Setups 7-9 June ’18 ?

2 min read

Dear traders,

the EUR/USD and GBP/USD are moving higher to test the key Fibonacci resistance levels of wave 4 at 1.1850 and 1.35

The EUR/USD is approaching a key reversal zone. Bearish candlestick patterns could confirm the bounce at the resistance zone and the potential end of wave 4 and start of wave 5. A break above the 50% Fibonacci level near 1.20 would invalidate that wave 4.

The GBP/USD is also building a bullish retracement via a bear flag chart pattern. The flag is probably part of a bullish wave 4, just like the EUR/USD. A bearish reversal in the key resistance zone at 1.35-1.36 could indicate a continuation of the downtrend, just like a bearish breakout below the flag.

Check out the video for the full analysis and trade plans on 7-9 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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