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EUR/USD Technical Analysis For 10Th September 2015, H4

10 September 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a slight Bullish Bias. The pair successfully crossed above the resistance trend line and ended up closing below it. It is anticipated that, as long as the pair trades above this level, long positions are ideal but with stops at the 50.0% fib level and 1.1384 fib level. However, should the pair manage to close below the now support trend line, short positions are ideal but with a stop at 1.1076.Traders trading this pair should observe closely EUR/GBP for positive correlation. Only buy or sell EUR/USD, if both of them are giving the same signal. These pairs have a strong positive correlation of up to +0.99 and will continue to move in the same direction during this intraday.

Trade recommendations:

As long as the pair trades above the now support trend line long positions are recommended but with stops at the 50.0% fib level and 1.1384 fib level. however, should the pair move down and end up closing below this trend line short positions should be reconsidered.

Graham Osano
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