Hi Traders, EUR/USD is building a bullish ABC retracement within the downtrend and is looking for a bearish breakout as long as price stays below 1.1250. The GBP/USD is also looking for a bearish continuation.
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The EUR/USD downtrend continuation becomes more likely if price is able to show clear bearish candlesticks patterns at the 21 ema or break below the 21 ema zone.
The GBP/USD is also showing a potential bearish breakout, pullback and continuation pattern but the volatility and news events this week do make the breakout more vulnerable and less reliable unless clear bearish candlesticks confirm the break.
Check out the video below for the full analysis and trade plans on 30 April – 1 May 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