EUR/USD Technical Analysis For 7Th September 2015, H4
07 September 2015, EUR/USD
EUR/USD is currently trading with a bearish Bias. The pair closed below a significant key level 1.1185 and is currently trading below it. As long as the pair trades below this level, short positions are recommended. It it however anticipated that, the current wave will rally upwards and close at 1.1185 before continuing short. As a caution, if your are looking forwards to trading Currency correlation, then also check other pair such as EUR/GBP, and EUR/CAD for positive correlation. Thus only buy or sell the pair if the latter pairs are showing the same signal.
If you haven't bout the pair already, then wait for it to bounce off from 1.1185, the sell, but only up to the support trend line. Should the price close above this level, then further movements upwards are expected up to the resistance trend line.
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