EUR/USD, GBP/USD Uptrends πŸš€ Must Break Resistance for Continuation βœ…

Dear Traders,

the EUR/USD is testing the previous top which is a key resistance zone at 1.2080. A bullish breakout could indicate an uptrend continuation which will take price towards the next targets at 1.2250 and 1.25. A bearish bounce however will indicate a decent chance of a larger bearish retracement back to 1.15 and create a larger bearish ABC pattern.

The GBP/USD bullish breakout has made a bearish retracement which bounced at the 38.2% Fibonacci level. Trade setups could appear either at the 50% Fibonacci level or upon tbe bullish break of the triangle. Main targets are 1.3625, 1.3650 and 1.3750.

Check out the video for the full analysis and trade plans on 7- 8 January 2018:

  • 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

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Source:: EUR/USD, GBP/USD Uptrends πŸš€ Must Break Resistance for Continuation βœ…

About the Author
Elite CurrenSea (ECS), founded by Chris Svorcik & Nenad Kerkez, is an award-winning Forex, CFD & Cryptocurrency trading solution provider. [space height="20"] Nenad & Chris offer market analysis, free education and proprietary trading systems. Their combined trading experience of over 30 years helps them to navigate the markets applying their favourite Wave Analysis Theory (Chris Svorcik) and Camarilla Trading Method (Nenad Kerkez). [space height="20"] You can learn more about the service provider through their website HERE

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