• EUR/USD is showing strong bullish momentum with a target at 1.1950 and 1.2025. Bull flag patterns could confirm the continuation higher. 

  • The GBP/USD is testing the 61.8% Fibonacci level. A bullish bounce could indicate one more swing up.

EUR/USD & GBP/USD Overview

The EUR/USD is showing strong bullish daily candles after a bounce at the 38.2% Fibonacci retracement level at 1.17. The bullish reversal has already reached 1.19 and bull flag patterns are expected before reaching the target zone of 1.1950 and 1.2025 within a wave 5 of A.

The GBP/USD could be completing a bearish ABC pattern within wave B and ready for a move up within wave C if price action can break above the 21 ema zones on the 1 hour and 4 hour chart.

Check out the video below for the full analysis and trade plans on 7 - 9 April 2021: 

EUR/USD, GBP/USD technical analysis: patterns, trends, key S&R levels.

  • Explanation of potential trade ideas both up and down.

  • Beginner friendly, explaining concepts in more detail.


Elite CurrenSea Training Program(s) should not be treated as a recommendation or a suggestion to buy or sell any security or the suitability of any investment strategy for Student. The purchase, sale, or advice regarding any security, other financial instrument or system can only be performed by a licensed Industry representative; such as, but not limited to a Broker/Dealer, Introducing Broker, FCM and/or Registered Investment Advisor. Neither Elite CurrenSea nor its representatives are licensed to make such advisements. Electronic active trading (trading) may put your capital at risk, hence all trading decisions are made at your own risk. Furthermore, trading may also involve a high volume & frequency of trading activity. Each trade generates a commission and the total daily commission on such a high volume of trading can be considerable. Trading accounts should be considered speculative in nature with the objective being to generate short-term profits. This activity may result in the loss of more than 100% of an investment, which is the sole responsibility of the client. Any trader should realise the operation of a margin account under various market conditions and review his or her investment objectives, financial resources and risk tolerances to determine whether margin trading is appropriate for them. The increased leverage which margin provides may heighten risk substantially, including the risk of loss in excess of 100% of an investment.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD falls toward 1.20 as the dollar gains further ground

EUR/USD is under pressure as the dollar gains ground across the board, amid a damp market mood. The euro fails to benefit from the European regulators' decision to reinstate the J&J vaccine.


GBP/USD remains pressured below 1.3950 amid mixed UK data

GBP/USD is trading below 1.3950, extending the pullback from its seven-week highs. The dollar benefits from the risk-off mood, while the pound struggles after CPI missed with 0.7% and as UK PM Johnson warns of winter covid wave.


Gold likely to face stiff resistance near $1795-$1800, focus on yields

Gold (XAU/USD) rebounded on Tuesday as the US Treasury yields tumbled alongside global stocks. Surging covid infections globally brought a reality check into the markets and triggered a fresh risk-aversion wave.

Gold News

Binance needs to breach this crucial supply barrier to set up record levels again

Binance Coin price shows a short-term rejection around the supply zone’s upper layer at $594.32. A close above the said level is a must if BNB bulls want to scale to new highs. Supply distribution shows that whales holding between 100,000 to 1,000,000 BNB are accumulating.

Read more

Bank of Canada Preview: Dovish surprise to lift USD/CAD

Bank of Canada is expected to leave its policy unchanged at 0.25%. Investors await adjustments to BoC’s asset-buying program. USD/CAD is likely to react more significantly to a dovish surprise.

Read more