Hi Traders, the EUR/USD made a bearish bounce after the US rate hike but price is expected to make a bullish continuation either after a deeper pullback or after a bull flag pattern. The GBP/USD is also expected to make a bullish correction. Do you want to leave your feedback? Please write a review on Forex Peace Army.
The EUR/USD will either make a bearish ABC zigzag for a deeper pullback or make an immediate bullish breakout. Price is expected to bounce at 1.13-1.1350 if price does make a deeper retracement. The targets are 1.1525-1.16-1.1750.
The GBP/USD could be volatile on Thursday (20 Dec) due to the interest rate and news. However, price is expected to make a bullish swing as long as price stays above the 1.25 support zone and as long as it lacks any strong bearish daily candle. A break above 1.27 confirms the bullish push.
Check out the video below for the full analysis and trade plans on 20-22 Dec 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
EUR/USD, GBP/USD video:
Good trading, Chris Svorcik Elite CurrenSea