manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
QIWIInstant top-up
Close
Log in

EURUSD Elliot Waves Analysis For 26 February 2016

26 February 2016, EUR/USD

EURUSD Elliot Waves Analysis For 26 February 2016

Wave Analysis:

EUR/USD is currently retracing towards 1.1080. Unless the pair breaks above 1.1103, we may expect a rebound from 1.108 for us to go short with our target at 1.100 and 1.082. A break above 1.1103 will call for further long positions with an ideal target at 1.1331. This pair should be traded alongside other positively correlated pairs such as EUR/HKD, EUR/SGD and GBP/USD. These pairs have a strong positive correlation of up to +0.96 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 Recommendations:

Unless there is a clear breakout above 1.1103, expect a rebound from 1.108 for you to execute short orders with your target at 1.100 and 1.082. A breakout above 1.1103 will call for further long positions with an ideal target at 1.1331.

Graham Osano
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.