EUR/USD, GBP/USD Analysis & Setups 15 – 16 Mar 2021

The EUR/USD completed a bearish ABC pattern at the 61.8% Fibonacci retracement level. Price is now awaiting a bullish breakout to confirm the start of the wave C. The GBP/USD needs to break above the 21 ema zone on the 4 hour chart.

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EUR/USD & GBP/USD Overview

The EUR/USD could build a wave C upwards if it breaks above the resistance. The main target is at 1.20-1.2025.

The GBP/USD bullish targets are located at the Fibonacci confluence at 1.4060 and 1.4140.

Check out the video below for the full analysis and trade plans on 17 – 19 Mar 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

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Good trading,

Chris Svorcik

CTA