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EURUSD Elliot Waves Analysis For 30th November 2015

30 November 2015, EUR/USD

EURUSD Elliot Waves Analysis For 30th November 2015
Technical View:
EUR/USD is currently trading with a bearish bias. The pair traded short as previously forecasted but could not close below our daily support 1.04956. As long as the pair trades above this level, we expect further movements downwards towards this support level. Any clear movements below 1.04637, will call for further short positions. This pair is strongly positively correlated to EUR/HKD, CHF/HKD, CHF/JPY and EUR/CAD. Therefore, only buy or sell Euro if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Remain short with targets at 1.04945, and 1.04936. Any clear movements below this target zone will signal further movements to the lower side.

Graham Osano
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