EUR/USD, GBP/USD Analysis & Setups 5 – 6 Apr 2021

By Chris Svorcik of Elite CurrenSea

Forex Trader, Analyst, Educator • Apr 5, 2021 at 2:12 PM EDT

The EUR/USD is testing a key 21 ema support zone on the 4 hour chart. A bearish breakout could indicate a new lower low whereas a bounce gives green light for a move up towards 1.1850.

The EUR/USD is testing a key 21 ema support zone on the 4 hour chart. A bearish breakout could indicate a new lower low whereas a bounce gives green light for a move up towards 1.1850. The GBP/USD is in a bullish wave C and bull flag patterns could confirm the push higher.

EUR/USD & GBP/USD Overview

The EUR/USD has mixed signals on different time frames. The 4 hour chart could easily be in a wave 4 with more downside but the daily chart is showing bullish candles. In any case, the bearish divergence should create a push back towards the 144 ema eventually.

The GBP/USD bullish wave C is aiming for the target zones at 1.3950 and 1.4025.

Check out the video below for the full analysis and trade plans on 5 – 6 April 2021:

EUR/USD, GBP/USD technical analysis
Review of 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:

Video Length: 00:12:41

Disclaimer:

The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit transactions or clients. Past performance of the companies discussed may not continue and the companies may not achieve the earnings growth as predicted. The information in this document is believed to be accurate, but under no circumstances should a person act upon the information contained within. We do not recommend that anyone act upon any investment information without first consulting an investment advisor as to the suitability of such investments for his specific situation.

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