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EUR/USD Technical Analysis For 11Th September 2015, H4

11 September 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a slight Bullish bias. The pair successfully closed above the 50.0% fib level and is trading above it. It is anticipated that, as long as the pair trades above this fib level, long positions are recommended but only up to the 38.2 % fib level. Any movements above this fib level will signal further movements to the upper side, even up to the 1.1713 key level.

Traders trading this pair should observe closely other pairs such as EUR/HKD for strong positive correlation and USD/CHF for strong negative correlation. Only buy or sell EUR/USD if EUR/HKD is giving the same signal but USD/CHF is giving an opposite signal.

Trade Recommendations:

If you haven't bought the EUR already, then wait for the current corrective wave to rally downwards and buy above 1.1385 or at 1.1153, any movements below this level will signal further movements below.

Graham Osano
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