28 January 2016, EUR/USD
EUR/USD is currently trading with a slight bullish bias. We are waiting for a clear bounce from the the upper resistive trend line to continue short with wave (5). In the meantime, we will be long only up to 1.095. This pair should be traded along side other positively correlated pairs such as EUR/NZD, EUR/GBP, EUR/CAD, and EUR/AUD. These pair have a strong positive correlation of up to +0.96 and are thus expected to move in a similar direction . Only buy or sell Euro if all the other other positively correlated pairs are giving the same signal.
Sell upon a clear bounce from the upper resistive trend line. The sell position should be accompanied by a TP level at 1.06. In the meantime, remain long with your target at 1.09
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us