manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

EURUSD Elliot Waves Analysis For 25 April 2016

25 April 2016, EUR/USD

EURUSD Elliot Waves Analysis For 25 April 2016
Wave Analysis:
EUR/USD is currently trading with a bearish bias. During the previous day on 22nd April 2016, the pair traded massively short but could not close below our daily support 1.12202. As long as the level 1.12202-1.12166 protects the lower side, look for possible rebound from this zone with a target at 1.1282. A breakout below 1.12166 will accelerate a downward rally towards 1.1176. This pair should be traded alongside NZD/USD, GBP/JPY and GBP/JPY. These pairs have a strong positive correlation of up to +0.89 and will likely move in a similar direction during this intraday.
Trade Recommendation

Expect a downward rally towards 1.1176. If you are not short already, wait for a clear breakout below 1.12166 to go short with your target at 1.1176 and 1.1151. Only buy if the price clear breaks out above 1.1239.

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

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

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .