Hi Traders, the EUR/USD is showing a rising wedge reversal chart pattern at the of a daily downtrend channel. But a larger bullish reversal still seems likely. The GBP/USD seems ready for a final wave 5 push higher towards 1.34.. Please write a review on Forex Peace Army. The EUR/USD bearish bounce in this resistance zone is likely unless a strong bullish daily candle pushes above 1.14, which would indicate a continuation towards 1.15. Otherwise price could build a bearish retracement towards the support zone at 1.1250 which could be a key level for a bullish reversal.
The GBP/USD is building a rising wedge chart pattern close to the 50% Fibonacci retracement level around 1.34-1.35.
Check out the video below for the full analysis and trade plans on 19 – 20 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