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 will need to make a critical decision at the 1.1250 support zone by either showing a bullish bounce or a bearish breakout. A bullish bounce favours a bearish ABC pattern whereas a bearish break makes a 123 pattern more likely.
The GBP/USD is in a downtrend and could aim for the 61.8% Fib at 1.2725 if price makes a corrective pattern such as a bear flag chart pattern.
Check out the video below for the full analysis and trade plans on 12 – 13 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
EUR/USD, GBP/USD video:
Good trading, Chris Svorcik Elite CurrenSea