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EURUSD Elliot Waves Analysis For 29 December 2015

29 December 2015, EUR/USD

EURUSD Elliot Waves Analysis For 29 December 2015
Wave Analysis:
EUR/USD is currently trading with a slight bearish bias. During the previous trading day, euro made little movements towards our set targets of 1.081, and 1.101. We are waiting for a clear move above 1.101, to buy with targets above 1.107, and a clear move below 1.081 to sell with targets below 1.055. This pair should be traded alongside other pairs such as EUR/HKD, EUR/SGD and GBP/USD. These pairs have a strong positive correlation of up to +0.98 and are thus expected to have a similar price action.

Trade Recommendation:

Waiting for a clear move above 1.101, then buy with targets above 1.107, and a clear movement below 1.081 then sell with targets below 1.055

Graham Osano
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