Hi Traders, EUR/USD is moving lower after breaking below the 88.6% Fibonacci retracement level. Price however needs to show a clear break below the support of the falling wedge pattern. The GBP/USD is moving higher after bouncing at the bottom of the range. We are here for the trading community. If you think our videos, analysis and education help you become a better trader, then we would certainly apprecaite your review on Forex Peace Army, thank you! The EUR/USD bullish reversal did not take place yet as price failed to break above the 21 ema zone of the 4 hour chart. Price will need to show a substantial breakout on the daily chart before bearish continuation becomes more likely. The GBP/USD seems to be building a larger bullish ABC zigzag pattern unless a strong daily candle closes below,1.30.
Check out the video below for the full analysis and trade plans on 2-3 Apr 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
EUR/USD, GBP/USD video: