? EUR/USD, GBP/USD Analysis & Setups 22-23 May ’18 ?

2 min read

Dear traders,

the EUR/USD is showing a very strong bullish daily pinbar and a reversal from 1.17 is possible. The GBP/USD downtrend seems stronger and a break below 1.34 could target lower lows whereas a bullish a break above 1.3450 indicates a potential reversal.

The EUR/USD downtrend is testing a key support zone at 1.17-1.1750. Price reacted with strong bullish momentum which created a bullish pinbar candlestick pattern. Price is now testing the support zone again, which will confirm whether a bullish breakout and larger reversal will occur or whether price will continue with the downtrend.

The GBP/USD downtrend looks stronger and price could continue with the bearish momentum if price manages to break below 1.34 support. A break above 1.3450 invalidates the potential wave 4 correction and could indicate a bullish reversal as price breaks above the 21 ema.


Check out the video for the full analysis and trade plans on 22-23 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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