? Will Bullish Momentum Push EUR/USD, GBP/USD Towards Targets? ?

2 min read

Dear Traders,

the EUR/USD and GBP/USD are showing shallow bearish corrective patterns which could indicate potential bullish breakouts.

The EUR/USD is showing bullish momentum after it broke above the bearish trend channel. The bullish breakout could run into trouble when approaching the Fibonacci levels of a potential wave B. A bearish reversal could see price drop down to test 1.2150 support zone whereas a break above these Fibs at 1.2350-1.2450 could indicate a larger uptrend.

GBP/USD is also in an uptrend but the momentum is becoming overstretched. The trend however can last longer than reversal traders imagine and a continuation push towards 1.42-1.43 is possible if enough momentum is present.

Check out the video for the full analysis and trade plans on 10-11 April 2018:

  • EUR/USD, GBP/USD, GBP/JPY 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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