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EUR/USD Technical Analysis For 28th September 2015, H4

EUR/USD Technical Analysis For 28th September 2015, H4 | 28 September 2015

28 September 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a slight bullish bias. We are still waiting for wave (c) to close below 1.1079, as long as the pair trades above 1.1079, short positions are ideal for intraday trades, any movements below the support trend line will signal further movements to the lower side. Pair that are Positively correlated to EUR include EUR/JPY, EUR/HKD, EUR/CAD, and AUD/CAD. These pairs have had a strong positive correlation of upto +0.96, and are expected to move in the same direction. Thus only buy or sell EUR if more than half of these pairs are giving the same signal.

Trade Recommendations:

Buy above 1.1195, but with stops at 1.1295, and the next stop at 1.1323. Sell at 1.1460, or below the lower support trend line but with stops at 1.09865, and the next stop at 1.08660.

Bob Stan
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