Forex EUR/USD Daily Video, May 31, 2022

[Sive Morten]

Good morning,

As interest rates start rising again, EUR and GBP should start expectable retracement down as well. First we're watching for 1.0620-1.0630 for EUR. Scalptraders could follow to intraday bearish setups on a way down.

 

[soul rebel]

Good Morning Sive
nice to see HD video and sound - crystal clear!
regarding Gbp.....after pullback are we anticipating further upside action as per Eur at 10600 area.....or do you think the situation is different for Gbp because of the untouched XOP at 12000?

ah...I see your comment on potential reverse H&S on Gbp 4hr chart

 

[Sive Morten]

Good Morning Sive
nice to see HD video and sound - crystal clear!
regarding Gbp.....after pullback are we anticipating further upside action as per Eur at 10600 area.....or do you think the situation is different for Gbp because of the untouched XOP at 12000?

ah...I see your comment on potential reverse H&S on Gbp 4hr chart

Yes, Viresh by far we're watching for the same scenario on all three markets - EUR, Gold and GBP, suggesting that 2nd upside leg is possible. On EUR we do not have clear reverse H&S pattern, as on other markets, but performance mostly the same.