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EUR/USD is showing strong bullish momentum with a target at 1.1950 and 1.2025. Bull flag patterns could confirm the continuation higher.
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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.
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Explanation of potential trade ideas both up and down.
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Beginner friendly, explaining concepts in more detail.
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