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EURUSD Elliot Waves Analysis For 7 Dec 2015

07 December 2015, EUR/USD

EURUSD Elliot Waves Analysis For 7 Dec 2015
Wave analysis:
EUR/USD is currently trading with a slight bearish bias. During the previous trading session of Friday, Euro crossed and close above the falling wedge, but could not hit our target resistant level 1.010, we are waiting for the currently downward corrective move to end with wave (b) at 1.077, then we continue long with wave (c) having our targets at 1.067, or even further to 1.1169. Traders trading this pair should observe GBPUSD for similar downward corrective movement since this two pairs are strongly positively correlated.

Trade Recommendations:

Remain Short and buy from 1.07733 with targets at 1.067, or even further to 1.1169.

Graham Osano
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