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EUR/USD Technical Analysis For 18Th September 2015, H1

18 September 2015, EUR/USD

Technical View:

EUR/USD is currently trading with a Bullish bias. It is anticipated that as long as the pair trades below the upper resistance trend line, long positions are anticipated, it is expected that wave (c) will rally upwards up to the resistance trend line or even higher. If the latter is the case, then long positions are ideal for the day
Traders trading this pair must also observe other pairs such EUR/AUD, EUR/CAD, and EUR/GBP for positive correlation. These pairs have had a positive correlation of up to +0.97, and are expected to move in the same direction today.

Trade Recommendations:

If you haven't bought the pair already, wait and buy above the resistance trend line. In case of a clear bounce from it, then short position should be ideal.

Graham Osano
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