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EURUSD Technical Analysis For 4th November 2015

04 November 2015, EUR/USD

EURUSD Technical Analysis For 4th November 2015
Technical View:
EUR/USD is currently trading with a bearish Bias. The pair bounced off from a key resistant level 1.0183, but could not close below 1.0819, we still expect further downward movements to this level. Ideally, wave ((c)) should close at 1.0819 or even below. Traders trading this pair should also observe other pairs such as EUR/HKD and GBP/USD for positive correlation. These pairs have had a strong positive correlation of up to +0.96. They are thus expected to continue moving in the same direction.

Trade Recommendations:

Remain short in this pair but with stops at 1.08899, and the next stop at 1.08109

Graham Osano
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