Hi Traders, the EUR/USD has big wicks on top of 2 daily candles in a row, which could indicate a bearish retracement back to the 61.8% Fib at 1.13. This zone could offer support as part of a bullish ABC zigzag. The GBP/USD bearish retracement was quite strong and whether price moves up or down depends on its reaction to the 21 ema zone. Do you 1 minute to leave your feedback? Please write a review on Forex Peace Army. Ps. do not forget to check out our upcoming 3x Forex seminars on trading in Europe! The EUR/USD could complete the bullish ABC zigzag at one of the Fibonacci levels as long as price stays above the bottom at around 1.1230. A confirmation of a bullish bounce via candlestick patterns could indicate a move up towards 1.15.
The GBP/USD could either be extending the wave C towards the 1.3430-1.35 area or be at the start of a larger bearish reversal.
Check out the video below for the full analysis and trade plans on 3 – 4 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
EUR/USD, GBP/USD video: