EURUSD Elliot Waves Analysis For 1st December 2015

01 December 2015, EUR/USD

EURUSD Elliot Waves Analysis For 1st December 2015
Wave Analysis:
EUR/USD is currently trading with a slight bullish bias. During the previous trading day, Euro went short, and closed along a very significant support level 1.05641. we are waiting for break below 1.05546 to mark the continuation of the downward movements. Should the pair move up and close above 1.05924, then long positions will be ideal with ultimate target at 1.06460. Traders trading this pair should observe closely other pairs such as EUR/HKD, EUR/CAD, and EUR/TRY for similar price patterns. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.

Trade Recommendation:

Sell below 1.05546 which should target 1.04567.

Graham Osano
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