the EUR/USD is completing a corrective and choppy wave C as expected, which could be part of a larger bearish ABC zigzag. A bullish bounce could occur once the wave C has been completed in the zone around 1.6, 1.1650 and 1.17. The analysis focuses on a bullish bounce and bullish breakout scenario which is confirmed via candlestick patterns.
The GBP/USD made a bullish bounce at the broken resistance around 1.33 but the price action failed to break a resistance trend line. The support and resistance trend lines are therefore key for a bullish or bearish break.
Check out the video for the full analysis and trade plans on 10 – 11 December 2017:
EUR/USD, GBP/USD technical analysis
Review of patterns, trends, key S&R levels
Explanation of potentrial trade ideas both up and down
Beginner friendly, explaining concepts in more detail
See the video below for all of the details
Heiken-Ashi Guide & Tools
Enjoy Nenad’s favourite camarilla & heiken ashi indicators and trading methods.