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EUR/USD Technical Analysis For 30th September 2015, H4

30 September 2015, EUR/USD

EUR/USD Technical Analysis For 30th September 2015, H4
Technical View:
EUR/USD is currently trading with a slight bearish bias. The pair failed to close above the key zone 1.12534, and 1.12687 and is currently trading just below it. As long as the pair trades below this level, short positions are ideal for trading but with stops at the support trend line, any clear movements below this trend line will signal further movements to the lower side. Basically, we expect wave (c) to close below the close of wave (a). EUR/GBP, and EUR/HKD had a very strong positive correlation with EUR/USD and are thus expected to move in the same direction during this intraday.

Trade Recommendations: If you haven't sold the pair already, wait for the current 4H candle to close below 1.12534, then sell but with stops at 1.1195, and the next stop at 1.1154. any clear movcement above 1.1294 will signal further movements to the upper side.

Graham Osano
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