☝️ USD Tests Key Decision Zones for Bounce or Break ☝️

2 min read

Dear Traders,

The EUR/USD is building a ABC zigzag corrective wave pattern. The bearish wave C is now challenging the 50% Fibonacci support zone of the wave 4 at 1.2250. A bullish reversal could indicate a the start of a wave 5 towards 1.27 whereas a break below 1.2150 will probably start a new trend with USD strength.

The GBP/USD is also showing bearish price action. The Cable already broke below the 50% Fibonacci level and could now be retesting the broken support for one more bearish push towards the 61.8% Fibonacci level.

Check out the video for the full analysis and trade plans on 10-12 February 2018:

  • EUR/USD, GBP/USD technical analysis
  • Review of patterns, trends, key S&R levels
  • Explanation of potentrial 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

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