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EUR/USD Technical Analysis For 23rnd September 2015, H4

23 September 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a bearish bias. wave (b) ended at 1.1444 as previously forecasted, we now wait for wave (c) to close below 1.1084 to mark the end of wave (c), the wave will probably close along the support trend line or even below it. Traders trading this pair should also observe other pairs such as EUR/CAD for strong positive correlation and USD/SEK for strong negative correlation.

Trade Recommendations:

As long as wave (c) trades above 1.1444, short positions are ideal but only up to the support5 trend line. Any clear movements below the support trend line will signal further movements to the lower side.

Graham Osano
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