Hi Traders, the EUR/USD is breaking below the 21 ema for the 2nd time, which is making a bearish breakout more likely. A close below 1.1270 is needed to confirm it. The GBP/USD seems to be building a bullish ABC zigzag pattern. Do you want to leave your feedback? Please write a review on Forex Peace Army. Ps. do not forget to check out our upcoming 4x Forex seminars on trading in Europe!
The EUR/USD would need to break above 1.14 before any bullish trade setups towards 1.15 are likely. A bearish breakout is aiming for the round level of 1.10 and the -27.2% Fibonacci target at 1.0860.
The GBP/USD seems to be ready for one more bullish swing towards the -27.2% Fibonacci target but remains vulnerable to price volatility based on Brexit news.
Check out the video below for the full analysis and trade plans on 10 – 11 Feb 2019:
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