The EUR/USD showed 2 bullish daily candles in a row and will make a decision soon whether the bearish break was false or whether the trend is really down. The GBP/USD is behaving erratically and is stuck in between weekly Pivot Points and around the moving averages. A triangle pattern seems to be taking place. Write a review on Forex Peace Army and help ECS.
The EUR/USD has managed to break above the 21 ema zone and could be ready for a larger bullish correction but 1.1350 resistance could stop it. A bearish trade setup is only interesting if price manages to build a lower low: a break below the 21 ema on the 4 hour would change that perspective.
The GBP/USD is likely to move down lower when taking into account the larger triangle pattenrn but the GU does not offer interesting setups at the moment due to the choppy price action.
Check out the video below for the full analysis and trade plans on 15-17 Nov 2018:
- 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: