Analyze EURUSD and GBPUSD from April 15 to April 18, 2020



EURUSD analysis from April 15 to April 18, 2020


After a sharp decline, the EU began to show signs of recovery with a strong upward momentum and began to create higher lows. Yesterday EURUSD moved up to close to 1,099 near 1.10.



EURUSD frame H4, Chart xStation5 do XTB provided


This is actually quite a sensitive level, as you see in the chart above, many times the EU has tested in this area, so if EURUSD wants to rise, it is required to break through the 1.10 level.


Whereas in frame H4, the EU is running in the model of a rising wedge:



EURUSD frame H4, Chart xStation5 do XTB provided


The nature of the wedge is a 2-directional pattern, it can break both the upper edge, and the lower edge, and as mentioned above because the landmark of 1.10 is really sensitive, so if you want to Buy, it is imperative to wait for the price to break. the upper wedge edge is above 1.10, if the EU passes this level the EU can continue up to 1,105.


In case of failure to break the upper wedge edge, wait patiently for the EU to break through the lower edge to proceed. Currently, after a rally, it is likely that the EU will show signs of slowing down, so it is possible to wait for the EU to break the wedge into your order.


GBPUSD analysis from April 15 to April 18, 2020


Using Fibonacci to measure, you can see that GBPUSD is above the 50% level, which is about to reach the 61.8% level of Fibo



GBPUSD frame D1, Chart xStation5 do XTB provided


As you can see, GBPUSD is forming bullish waves as it begins to make higher highs and higher troughs at small frames. In addition, due to the Covid-19 pandemic that caused the economy to stagnate, all attention seemed to be focused on the Fed and the US dollar, however the moves from the Fed Nor does it show a positive sign to save the current situation, which also makes GBP possible to benefit. And to confirm the continuing trend, GBPUSD could sustain


However, if you look at the H1 frame can see, GBPUSD is also going nearly the wedge price:



GBPUSD frame D1, Chart xStation5 do XTB provided


It is very likely that GBPUSD will adjust here. Therefore, the price adjustment in this area can be bought in the zone of 1.251, cutting losses when the price falls below 1.247.



GBPUSD frame D1, Chart xStation5 do XTB provided





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Author: Tin Nguyen


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