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EURUSD Elliot Waves Analysis For 25th November 2015

25 November 2015, EUR/USD

Wave Analysis:
EUR/USD is currently trading with a bullish bias. The pair crossed above the red trend line and is currently rallying to the upper side. As long as the pair trades above this trend line, we anticipate further movements to the upper side probably up to 1.07620 or even further to 1.08323. Ideally, this upward movement is a counter trend movements/ Corrective three wave movements, with wave (a) ending at 1.07619, or even further to 1.08323. We expect similar price patterns in other positively correlated pairs such as EUR/HKD, NZD/USD and CHF/HKD. Therefore, only buy or sell Euro if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

As long as the pair trades above the red trend line, buy positions are recommended with ultimate targets at 1.07620 and 1.08323

Graham Osano
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