? EUR/USD, GBP/USD Analysis & Setups 31 May – 2 June ’18 ?

2 min read

Dear traders,

the EUR/USD could be building 5 bullish waves which indicates the potential for a larger bullish retracement via an ABC pattern. The GBP/USD downtrend remains strong and could continue if price bounces at the 1.3380-1.3430 resistance zone.

The EUR/USD seems ready to build a bigger ABC retracement back to resistance Fibs at 1.19-1.20 IF price manages to stay above a key support zone at 1.15. The bullish retrace could offer trade setups if price shows bullish candlestick patterns at the Fib levels of wave B.

The GBP/USD is also building a bullish retracement but the downtrend seems stronger and price could continue lower depending on how price reacts to the resistance zone at 1.3380-1.3430.


Check out the video for the full analysis and trade plans on 31 May – 2 June 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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