the EUR/USD bullish weekly candle and 2nd attempt to break above the 21 ema zone on the 4 hour chart is indicating a bullish reversal towards 1.1750. The GBP/USD is less bullish but a falling wedge chart pattern could also indicate a reversal. Both currency pairs are vulnerable to a reversal if a daily candle breaks below support. Write a review on Forex Peace Army and support ECS.
The EUR/USD might make a pullback first before breaking above the sideways zone. The retracement could find support at the 21 ema zone on the 4 hour chart. The main aspect remains the sideways zone and there is a risk that price might stay in the zone for another week.
The GBP/USD is at the bottom of a large sideways correction and the daily candles of the last few weeks remain corrective and choppy. The price movement remains difficult.
Check out the video below for the full analysis and trade plans on 9-10 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:
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