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EURUSD Elliot Waves Analysis For 24 June 2016

24 June 2016, EUR/USD

EURUSD Elliot Waves Analysis For 24 June 2016

Wave Analysis

EUR/USD is currently trading with a bearish bias. Earlier today, following the Brexit, euro traded massively short and even broke below our ultimate target 1.1142. During this intraday, we are very reluctant to execute long trades, instead, in the meantime, we remain flat for protection purposes. Unless you are a professional news trader, remain flat and wait only for signals that give sell opportunities. This pair should be traded alongside GBP/USD, AUD/USD, and NZD/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

Trade Recommendations:

Remain flat for now.

Graham Osano
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