This weeks' video reviews the USD bull rebound and the impact it could have on the major currency pairs. Especially the EURUSD rejection wick at the 38.2% Fibonacci level and the GBPUSD bearish engulfing twins offer potential strong resistance levels.
The EUR/USD bearish movement has retraced very deep which therefore favors a completed wave 5 (blue) of wave C (green) of Y (brown). Price could still expand the bullish price action after completing a potential ABC (green) zigzag pattern.
The EUR/USD bearish movement has retraced very deep which therefore favors a completed wave 5 (blue) of wave C (green) of Y (brown). Price could still expand the bullish price action after completing a potential ABC (green) zigzag pattern.