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EURUSD Elliot Waves Analysis For 28 December 2015

28 December 2015, EUR/USD

EURUSD Elliot Waves Analysis For 28 December 2015
Wave Analysis:
EUR/USD is currently trading with a bullish bias. The pair traded long and even crossed above our key level 1.093 and is currently trading above it, as long as the pair trades above this level, long positions will be ideal for trading with targets above 1.1022. Ideally, wave (c) should close above 1.1022, or even higher to 1.1058. This pairs should be traded alongside other positively correlated pairs such as EUR/HKD, and GBP/USD. These pairs have a strong positive correlation of up to +0.85 and are thus expected to have a similar price action. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.

Trade Recommendation:

As long as the pair trades above 1.093, remain with targets above 1.1022, or even higher to 1.1058.

Graham Osano
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