EURUSD Elliot Waves Analysis For 17 February 2016
17 February 2016, EUR/USD
EUR/USD is currently trading with a strong bullish bias. The pair reversed from1.1128 as shown on the hourly chart and pretty much bullish. There is a very high probability that a higher high towards 1.1175 may be reached thereby pushing the price further to the upperside . It is thus highly recommended to remain long with your ultimate target at 1.1223. This pair should be traded alongside other positively correlated pairs such as NZD/USD, and GBP/CAD. These pairs have a strong positive correlation of up to +0.78. Thus they are expected to have a similar price direction. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.
Remain long with your ultimate target at 1.1223
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us