EUR/USD, GBP/USD Analysis & Setups 5 – 10 Dec 2021

The EUR/USD is building a bullish retracement but price action is expected to continue with the downtrend with main targets at 1.10 and 1.09. The GBP/USD is aiming at the next 38.2% Fibonacci retracement level at 1.3150-30.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD remains in a very strong downtrend, although a mild pullback towards 1.14-1.1450 is expected.

The GBP/USD could make a bullish retracement after hitting 1.3150. But also the Cable should make a bearish push lower towards 1.30 and 1.28.

Check out the video below for the full analysis and trade plans on 5 – 10 Dec 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 22 – 26 Nov 2021

The EUR/USD made a bullish retracement at 1.12 but remains in a very strong downtrend. The main trades are focused on the expected bearish movement. The GBP/USD is testing the bottom of the downtrend channel, which could create a bullish correction.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD should resume the downtrend after making a bullish ABC correction. The main target for the downtrend is at 1.10 support.

The GBP/USD should also build a bullish ABC pattern and then decline towards the 38.2% Fibonacci level at 1.3150.

Check out the video below for the full analysis and trade plans on 29 Nov – 3 Dec 2021:

Good trading,

For a look at all of today’s economic events, check out our economic calendar.

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 22 – 26 Nov 2021

The EUR/USD is testing the 1.1250 support zone after showing strong bearish momentum. The GBP/USD is at the bottom of the downtrend channel but could be weak enough to break below it.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD needs a breakout below the 1.1250 support or a retest of the resistance at 1.1375 for bearish trade setups.

The GBP/USD is looking for a bearish breakout and aims at targets near 1.3325, 1.3250, and 1.3150.

Check out the video below for the full analysis and trade plans on 22 – 26 Nov 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 15 – 19 Nov 2021

The EUR/USD made a strong bearish breakout. A downtrend continuation is soon expected. The GBP/USD is building a bullish retracement within a larger downtrend. An immediate continuation is possible below the 1.35 resistance level.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD could make a retracement back to the 1.15 resistance level, which would be a strong zone for a downtrend continuation. A bearish breakout below the support zone could see an immediate breakout.

The GBP/USD targets are aiming at 1.33250, 1.3250, 1.3175, and 1.30.

Check out the video below for the full analysis and trade plans on 15 – 19 Nov 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 8 – 13 Nov 2021

The EUR/USD made a bearish price swing but was unable to break and close below 1.15 support. A bullish retracement now seems likely. The GBP/USD bearish impulse made a Doji candlestick pattern at the previous bottom and is also expected to retrace upward.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD could be aiming at a target around 1.1750-1.18, which is the next key decision zone.

The GBP/USD will probably aim for the resistance trend line at 1.3750.

Check out the video below for the full analysis and trade plans on 8 – 12 Nov 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 1 – 5 Nov 2021

The EUR/USD is showing strong bearish momentum but price action was unable to break the bottom. The bears will need to see a push below the 50% Fibonacci level whereas the bulls need a break above 1.1625. The GBP/USD made a bearish swing but price action is approaching the inverted head and shoulders pattern.

If you think our videos, analysis, and education can help you become a better trader, then you could ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD will need a clear break before the next trend is confirmed. A break above 1.1625 indicates a bullish reversal whereas a break below 1.1525 confirms the downtrend.

The GBP/USD is approaching a key support zone at 1.3575-1.36. A bullish bounce could indicate a rally towards the trend line. A break below the 1.34 support indicates a strong downtrend.

Check out the video below for the full analysis and trade plans on 1 – 5 Nov 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 26 – 29 Oct 2021

The EUR/USD is showing a bullish divergence and time pattern on the daily chart. A break above the 21 and 144 emas would confirm a bullish reversal. The GBP/USD also needs a break above the 21 ema zone on the 4 hour chart for an uptrend continuation.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD daily chart target is the 144 ema around 1.175-.1.18. Whether the price action could go higher depends on the reaction at this 144 ema zone. A bullish confirmation could take place on the 4 hour chart with a close above the 21 emas.

The GBP/USD is aiming at the targets around 1.3930, 1.40, and 1.4070. An uptrend continuation should reach these Fibonacci and round levels if the momentum is strong enough.

Check out the video below for the full analysis and trade plans on 26 – 29 Oct 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 19 – 22 Oct 2021

The EUR/USD made a bullish bounce and break above the 21 ema zone on the 4-hour chart. Price is now testing a key break or bounce spot at the 38.2% Fibonacci resistance level. The GBP/USD also made a bullish bounce at the 21 ema and 144 ema support zone. More upside seems likely to test the targets.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD price pattern at the Fibonacci resistance will be a key aspect to determine the next price swing. A bull flag indicates more uptrend continuation whereas a sharp bearish momentum indicates a downtrend.

The GBP/USD is breaking above a daily resistance trend line with multiple targets from 1.3875 to 1.40.

Check out the video below for the full analysis and trade plans on 19 – 22 Oct 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 18 – 22 Oct 2021

The EUR/USD made a bullish retracement after the downtrend became exhausted on the 4 hour chart. Price action is now approaching a key decision for a bullish or bearish break. The GBP/USD made a strong upside swing and is now testing a confluence of support.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD needs to break below the 50% Fibonacci support of the weekly chart for a downtrend continuation. A bullish breakout above the 50% Fib resistance of the 4 hour chart, however, could indicate the bullish reversal.

The GBP/USD remains in an uptrend as long as price action stays above the support trend line and long-term moving averages. A break below it indicates a bearish price swing to test the previous bottom.

Check out the video below for the full analysis and trade plans on 18 – 22 Oct 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 11 – 15 Oct 2021

The EUR/USD breaking below the bear flag pattern with a small target at the 1.15 support zone. The GBP/USD is showing a potential bearish reversal due to the strong candlestick patterns at the -0.618% Fibonacci targets.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD is in a strong downtrend channel but price action is now testing a key support zone at the 50% Fibonacci level.

The GBP/USD is expected to build a contracting triangle pattern or sideways range.

Check out the video below for the full analysis and trade plans on 11 – 15 Oct 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 4 – 8 Oct 2021

The EUR/USD is building a small bullish pullback in a larger downtrend. The main target is the 50% Fibonacci retracement at 1.15-1.1540. The GBP/USD should make a bearish bounce as well, despite the strong bullish close and reverse.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD long-term direction depends on the price reaction at the 50% Fibonacci support level and 144 ema of the weekly chart.

The GBP/USD long-term direction depends on how strong price action falls once it makes a bearish bounce.

Check out the video below for the full analysis and trade plans on 4 – 8 Oct 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 29 Sep – 1 Oct 2021

The EUR/USD invalidated the bullish outlook by breaking below the bottom. A bearish impulse is now expected to aim at the targets around 1.16 and 1.15. The GBP/USD also made a bearish breakout and has reached the first target at 1.35.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD is moving lower as part of a bearish wave 3 or wave C. The main target is the 50% Fibonacci level on the weekly chart around 1.15-1.1550.

The GBP/USD is expected to make a bullish pullback first before moving down lower once again. A descending wedge pattern has been broken with a strong bearish daily candle and one more move lower could take place at 1.375-1.36.

Check out the video below for the full analysis and trade plans on 29 Sep – 1 Oct 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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Bitcoin Trapped Between Crucial Support & Resistance Zones

Bitcoin (BTC/USD) has arrived at a critical decision zone. Will price action respect the 144 ema support on the daily chart?

Let’s review the two most realistic scenarios for the BTC/USD in the near future on the daily and 4 hour charts.

Price Charts and Technical Analysis

Bitcoin daily chart

The BTC/USD seems to be trending lower but the price action has been slow and choppy so far. Price action also made a bullish bounce at the 144 ema:

  1. A bullish breakout above the 21 ema zone could confirm an uptrend continuation.
  2. The main target is the resistance box (red) and -27.2% Fibonacci target.
  3. This could complete either a bullish ABC or be part of a larger 12345 wave pattern. This depends on whether price action bounces at or breaks above the top.
  4. If price action, however, breaks below the support line (green) and 144 ema, then a deeper bearish pullback (orange arrow) is expected.
  5. A contracting triangle chart pattern could take place via an ABCDE (pink).
  6. A bullish bounce and breakout (green arrows) is expected later on.

On the 4 hour chart, price action is in a downtrend channel but also facing a strong support zone:

  1. The breakout is key for determining the next price swing.
  2. A break, pullback and continuation pattern would help determine whether the breakout is not a false break.
  3. A bullish breakout (green arrows) is needed above the resistance trend line (orange) and moving averages.
  4. A bearish breakout (orange arrows) is needed below the support trend lines (green).

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

EUR/USD, GBP/USD Analysis & Setups 27 – 28 Sep 2021

The EUR/USD is testing key support and resistance trend lines. A bearish breakout could see a decline towards 1.1580 whereas a bullish breakout aims at the double top near 1.19. The GBP/USD made a triple bottom and is expected to build a bullish ABC pattern.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD bearish momentum, however, favours a bearish breakout. But price action must break below the bottom and support zone first.

The GBP/USD bullish bounce is aiming at the 61.8% Fibonacci level and resistance trend line of the descending wedge chart pattern.

Check out the video below for the full analysis and trade plans on 27 – 28 September 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 22 – 24 Sep 2021

The EUR/USD is testing a key 21 ema resistance zone on the 4 hour chart. A bullish breakout could start a larger reversal whereas a bearish bounce could test the previous bottom. The GBP/USD is expected to test the bottom again and build a descending wedge pattern.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD is in a downtrend channel but price action could be completing an ABC pattern as long as daily candlestick does not break below the bottom.

The GBP/USD is expected to decline below the 88.6% Fibonacci and test the double bottom.

Check out the video below for the full analysis and trade plans on 22 – 24 September 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/USD, GBP/USD Analysis & Setups 20 – 21 Sep 2021

The EUR/USD is testing the previous bottom and key decision zone. The GBP/USD seems to be creating a triangle chart pattern if price action makes a bullish bounce.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD needs to break above the double top at 1.19 or the 88.6% Fib at 1.17 before a clear bullish or bearish swing can be expected.

The GBP/USD is probably in a triangle pattern unless there is an immediate break, pullback, and continuation below the support line.

Check out the video below for the full analysis and trade plans on 20 – 21 September 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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EUR/GBP Bullish Reversal at 61.8% Fibonacci Support Zone

The EUR/GBP has made a key bullish bounce at the 61.8% Fibonacci retracement. This occurred after price action made a breakout above the key resistance trend line (dotted red).

This article will examine whether a long-term bullish reversal can indeed take place on the daily chart.

Price Charts and Technical Analysis

EUR/GBP daily chart

The EUR/GBP daily chart is showing wicks on the bottom of the daily candle. Price action is now testing the 21 ema resistance zone:

  1. A push above the 21 ema zone could indicate a bullish breakout (green arrow).
  2. The first target is the -27.2% Fibonacci level at 0.8658.
  3. A bull flag or pullback after hitting the first target could see price action move up again towards the second target at the -61.8% Fibonacci level at 0.8715.
  4. A break (blue arrow) above the resistance zone (red box) could indicate a larger bullish reversal via a wave 3 (purple) pattern.
  5. A bearish bounce (orange arrow) leaves the window open for an ABC (grey) pattern.

On the 4 hour chart, the EUR/GBP is showing a bullish breakout above the resistance trend lines (red dotted):

  1. Price action seems to have completed a 5 wave pattern (pink) in wave 1 (purple).
  2. A bearish ABC (pink) could have completed wave 2 (pink).
  3. A bearish breakout (red arrows), however, below the support trend line (green) could indicate a deeper wave 2 at the 78.6% Fibonacci level.
  4. A break below the bottom invalidates (red circle) the wave 1-2 (purple) pattern.
  5. A bullish continuation (green arrow) above the current candle indicates an immediate push higher. A small pullback (orange arrow) also could see a push up (green arrow).
  6. A bull flag pattern (grey arrow) could kick start a larger bullish breakout (blue arrow).

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

EUR/USD, GBP/USD Analysis & Setups 15 – 17 Sep 2021

The EUR/USD has completed a bearish ABC zigzag pattern and made a bullish reversal at the inverted head and shoulders pattern. The GBP/USD made a false breakout above the double top and is now testing a key support zone.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD needs to break above the long-term moving averages for a bullish push towards 1.20 and 1.21.

The GBP/USD is choppy but a bullish bounce towards the head and shoulders pattern zone seems likely.

Check out the video below for the full analysis and trade plans on 15 – 17 September 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
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Google Stock Hits -1.618% Fibonacci Target and Expects Pullback

The Alphabet Stock (GOOG) has had a tremendous bull run for more than 1.5 years. The price has doubled in the last 1 year – since September 2020.

Today’s Elliott Wave and price analysis reviews why a bearish correction is needed. But also why an uptrend is expected to continue after the pullback.

Price Charts and Technical Analysis

The GOOG stock price has reached the distant -1.618% FIbonacci target of the wave 1-2 (purple). This is a spot where the wave 3 (purple) could be completed:

  1. An uptrend is clearly visible when viewing the long-term moving averages.
  2. But a divergence pattern has also appeared (purple line).
  3. Also the resistance of the strong -1.618% Fibonacci target could start a pullback.
  4. The confirmation of a retracement is a break (orange arrows) below the 21 ema zone.
  5. A head and shoulders reversal chart pattern could take place (red boxes)
  6. The main target of the pullback is the support zone (blue box).
  7. An uptrend continuation (green arrows) is expected after price action completes wave 4 (purple) and starts wave 5 (purple).

On the 4 hour chart, price action is close to challenging the support trend line (green):

  1. A bearish breakout could first aim at the 23.6% Fibonacci level (orange arrows).
  2. A bullish bounce could finish wave A (pink) and create a wave B (pink).
  3. Another bearish leg (orange arrow) could complete wave C (pink) within wave 4 (purple).
  4. A bullish bounce could occur at the 38.2% Fibonacci level (blue arrow).

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

 

EUR/USD, GBP/USD Analysis & Setups 13 – 14 Sep 2021

The EUR/USD is approaching the key support zone at 1.1750 after building a bearish ABC zigzag pattern. The GBP/USD is showing a strong bearish reversal and is expected to decline further down.

If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

The EUR/USD is expected to make a bullish reversal at the key support decision zone but a breakout above the moving averages remains critical.

The GBP/USD is looking to test the support trend line again, which could create a larger triangle chart pattern. The breakout direction should be bearish.

Check out the video below for the full analysis and trade plans on 13 – 14 September 2021:

For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik
CTA