The EUR/USD is testing the key resistance zone at 1.1730. A bullish breakout offers wide open space for an impulsive uptrend continuation towards 1.18-1.20. The GBP/USD is showing a bullish breakout and possible continuation towards the main target at 1.3275. Check out our education & research page at ECS.
EUR/USD bullish breakout confirms a potential uptrend whereas a bearish bounce could see price develop a 3rd bearish corrective wave which could take price back to support at 1.1575, 1.1525, 1.1450.
GBP/USD is in an uptrend and aiming for the -61.8% Fibonacci target and 5th wizz level at 1.3275. A bearish retracement is likely to bounce as long as price stays above the bottom of wave A.
Check out the video for the full analysis and trade plans on 18-19 September 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
See the video below for all of the details