EUR/USD, GBP/USD Analysis & Setups 10 – 12 Feb 2021

The EUR/USD has reached the target zone within the expected wave 5. But price action could make one more push higher after it retraces to and bounces at the 144 ema on the 15 min chart. The GBP/USD has reached the first target zone near 1.3860 and is now expected to build a bull flag chart pattern.

Or 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 build a wave 5 of wave 5 which is aiming at 1.2150-1.2175. This could complete a wave A of a larger ABC zigzag. An ABC is expected within wave B.

The GBP/USD should continue higher if a bull flag pattern emerges and price stays above the 21 ema zone. The main target is the 1.40 round level.

Check out the video below for the full analysis and trade plans on 10 – 12 Feb 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

EUR/USD & GBP/USD Video

 

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

Good trading,

Chris Svorcik
CTA