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EURUSD Elliot Waves Analysis For 26 January 2016

26 January 2016, EUR/USD

EURUSD Elliot Waves Analysis For 26 January 2016

Wave Analysis:

EURUSD is currently trading with a bearish bias. During the previous trading day, Euro traded short and even broke below 1.085, unless there is a clear break out above 1.086, wave (5) will continue short with an ultimate target at 1.064. This pair should be traded alongside other positively correlated pairs such as EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP and GBP/AUD.These pairs have a strong positive correlation of up to +0.95 and are thus expected to have a similar price action. Only buy or sell eurusd if all the other positively correlated pairs are giving the same signal. Trade Recommendation.

Remain short with an ultimate target at 1.064

Graham Osano
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