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EUR/USD Technical Analysis For 2nd September 2015, H4

02 September 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a bearish Bias. The crossed above the 50.0% fib level, and is currently trading just below it. As long as the pair trades below this level, short positions are recommended only up to the 61.8% fib level. Any movements below the support trend line will signal further movements below. Traders trading this pair should see to it that, other currencies such as EUR/NZD, EUR/GBP, and EUR/CAD are showing the same signals. Ensure that at least half of this pairs are showing the same signal as EUR/USD, these pairs are highly positively correlated (+0.79).

Trade Recommendations:

As long as the pair trades below the 50.0% fib level, short positions are recommended only up to the 61.8% fib level, any movements below the support trend line will signal further movement below.

Graham Osano
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