? EUR/USD, GBP/USD Analysis & Setups 20-21 May ’18 ?

2 min read

Dear traders,

the EUR/USD downtrend is testing 1.1750 support. A trend breakout towards 1.1650 or a bullish reversal could occur if price breaks above the channel and 1.1850. The GBP/USD could make a lower low at 1.3380 before completing bearish wave 1.

The EUR/USD is in a strong bearish trend channel but price has reached a key support level at 1.1750. A bearish continuation could see price break last week’s low and move towards 1.1650 whereas a counter trend bullish breakout could start a bullish wave 4 correction.

The GBP/USD broke below the consolidation zone but the bearish break has been slow. A bearish continuation towards 1.3380-1.34 is possible on lower time frames if price breaks support. A bullish break above 1.3525-75 could indicate a larger bullish correction.


Check out the video for the full analysis and trade plans on 20-21 May 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

Good trading,
Chris Svorcik
Elite CurrenSea

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