Dear traders,
the EUR/USD is looking to continue its bearish momentum towards the main target at 1.1450 after breaking a rising wedge and hitting the 50% Fib of wave 4. The GBP/USD is also looking for a bearish breakout if price manages to push below the support trend line.
The EUR/USD is showing strong bearish momentum and short setups are possible if price makes a bear flag chart pattern on lower time frames such as the 15min chart. Other trade setups could occur if price shows strong price action on the 1 or 4 hour chart. The main target is 1.1450 which is the 50% Fib of a weekly chart.
The GBP/USD also could see a bearish breakout if price manages to break below the support trend line. This pair could even offer more space to the downside as the main target is at 1.30.
Check out the video for the full analysis and trade plans on 19-20 June 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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