manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

EUR/USD Technical Analysis For 31st August 2015, H4

31 August 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a slight bearish Bias. The pair bounced off from the 61.8% fib level, and is currently rallying back upwards to the 50.0% fib level. It is anticipated that should the pair close above the 50.0% fib level, the current wave is expected to continue upwards to the 38.2% fib level. However, should the current wave rally down and close below the 61.8% fib level and also below the support trend line. short positions are recommended. As a precaution, before you buy/ sell the pair, check other pairs such as EUR/JPY, GBP/JPY for positive correlation, they tended to move in the same direction during the previous week!
Trade recommendations:

As long as the pair trades above the 61.8% fib level, long positions are recommended. Any movements below the 61.8% fib level will signal further movements below. However, should the price move upwards and close above the 50.0% fib level, long positions are recommended but up to the 1.1384/ 38.2% fib level.

Graham Osano
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .