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EURUSD Elliot Waves Analysis For 10 March 2016

10 March 2016, EUR/USD

EURUSD Elliot Waves Analysis For 10 March 2016

Wave Analysis:

EUR/USD is currently trading with a bearish bias. During the previous trading day, Euro traded perfectly short as previously forecasted and is still pretty much bearish. During this intraday, we will remain short with wave (c) with our ideal target at 1.0732. In the meantime, we remain short but with our take profit at 1.09450, a clear break below this level would mean we are headed further short with our ultimate target at 1.0732. This pair should be traded alongside other positively correlated pairs EUR/GBP, and EUR/JPY, these pairs have a strong positive correlation of up to +0.92 and are thus expected to have a similar price action. Only buy or sell Euro if the other positively correlated pair is giving the same signal.
Trade Recommendations:
Remain short with your taget at 1.0945, a clear break below this level will call for further short positions with your next ideal TP at 1.0732 .
Graham Osano
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