The EUR/USD made a final strong bullish push to close the week with a pinbar. The bullish breakout is indicating a false bearish break below 1.13 and the potential for a larger bullish correction. The GBP/USD made a move down but didn’t manage to break below the 88.6% Fibonacci level and seems to be expanding its triangle pattern. Write a review on Forex Peace Army and help ECS.
The EUR/USD is now again testing the key 21 ema resistance zone on the daily chart. A bearish bounce could see price retesting the support and head and shoulders level around 1.13.
The GBP/USD is expected the expand the triangle pattern for the moment due the Brexit negotiations between the UK and the EU.
Check out the video below for the full analysis and trade plans on 17-19 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