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

EURUSD Elliot Waves Analysis For 28 June 2016

28 June 2016, EUR/USD

Wave Analysis:
EUR/USD is currently trading with a bullish bias. Yesterday, the pair continued short but could not hit our target support level 1.094, we expect the current upward rally to be a mere upward pullback and should not close above 1.1072. A clear breakout above this level will lead to an acceleration to the upper side but should not go beyond 1.1142. This pair should be traded alongside NZD/USD, GBP/USD, AUD/USD and GBP/JPY. These pairs have a strong positive correlation and will have a similar price action during this intraday.

Trade Recommendation:

Wait for a clear rebound from 1.1072, then go short with an ideal target at 1.094. A beak out above 1.1085 will call for long positions with an ideal target at 1.1142

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 .