Hi Traders, the EUR/USD made a bullish breakout above 1.15 as expected and price could now be building a retracement back to 1.1450-1.1525 for a continuation towards 1.1750. The GBP/USD seems to be making a bearish bounce at the previous resistance zone. Do you want to leave your feedback? Please write a review on Forex Peace Army.
The EUR/USD rmade a strong bullish breakout with a daily candle close above 1.15 and near the daily high. The bulls remain in control as long as price stays above 1.1450 and a bullish continuation seems likely.
The GBP/USD respected the previous high and top and could make a bearish breakout if it pushes below the support trend line.
Check out the video below for the full analysis and trade plans on 10-12 Jan 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