Hi Traders, the EUR/USD is close to a key resistance zone which could send the pair down again. But this video explains why a bull reversal at 1.1250 could offer enormous potential. The GBP/USD is bouncing at the 38.2% Fibonacci support zone and could aim for one more higher high at 1.34-1.35. Please write a review on Forex Peace Army. The EUR/USD is approaching the top of a bearish channel which could be a bouncing spot for a move lower towards the 1.1250 support zone. A bullish rerversal however could finally indicate an increase of momentum.
The GBP/USD upside becomes questionable if price breaks below the 50-61.8% Fibonacci support zone of wave 4. Otherwise a last bullish wave 5 of wave C is expected to finish at 1.34-1.35.
Check out the video below for the full analysis and trade plans on 17 – 18 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