Hi Traders, the EUR/USD uptrend channel remains strong and price seems to be ready for a new higher high that can challenge 1.1350-1.14. The GBP/USD also seems to be completing a wave 5 within an ending diagonal that can aim at 1.34-1.35. Please write a review on Forex Peace Army. Ps. do not forget to check out our upcoming 2x Forex seminars on trading in Europe! The EUR/USD break below the bullish channel could be a bearish correction rather than a restart of the downtrend. An ABC zigzag could test the 1.1250 support zone which is a major decision for break or bounce. A bullish reversal could confirm an inverted head and shoulders pattern and a larger bull reversal. The GBP/USD remains dependent on the Brexit news but a last push up towards 1.34-1.35 could complete a larger bullish correction and start a new downtrend.
Check out the video below for the full analysis and trade plans on 14 – 16 Mar 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: