The EUR/USD bullish breakout closed and reversed. Today’s video explains what are the expected price movements for both the EUR/USD and GBP/USD.
The EUR/USD failed to break above the previous top at 1.25 and the bullish momentum seems to be a wave C rather than a wave 3. A break below the key support level (explained in the video) could confirm a bearish wave A and indicate a larger bearish ABC correction within sideways wave 4.
GBP/USD uptrend remains strong but price is building a larger bearish retracement. The uptrend could still be the dominant direction as long as price stays above the 50% Fib, the long term moving average and the 1.40 round level.
Check out the video for the full analysis and trade plans on 29-30 March 2018:
EUR/USD, GBP/USD, GBP/JPY 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