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.
Check out the video for the full analysis and trade plans on 19-20 June 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