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EURUSD Technical Analysis For 5th November 2015

EURUSD Technical Analysis For 5th November 2015 | 05 November 2015

05 November 2015, EUR/USD

EURUSD Technical Analysis For 5th November 2015
Technical View:
EUR/USD is currently trading with a slight Bullish Bias. The pair went short as previously forecasted but could not close below 1.08109, and is currently on an upward corrective move. We expect the current upward pull back to continue probably up to 1.08899 before we continue short. This pair went short even as other positively correlated pairs such as EUR/HKD and EUR/SGD continued short. Out of the three, its only EUR/USD thats currently on an upward corrective move, we thus expect the current upward movement to be short lived thereby giving us a chance to continue short. Ideally wave ((c)) should end along 1.08073.

Trade recommendations:

We will sell at 1.08899, but with TPs at 1.0844, and the next stop at 1.08073

Bob Stan
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