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EURUSD Elliot Waves Analysis For 29 June 2016

29 June 2016, EUR/USD

EURUSD Elliot Waves Analysis For 29 June 2016

Wave Analysis

EUR/USD is currently trading with a slight bullish bias. Yesterday, euro retraced to the upper side but is yet to reach our target reversal point at 1.1113. During this intraday, we expect a possible bullish price action towards 1.1113, where we'll be looking to go short with our ideal target below 1.0935. This pair should be traded alongside GBP/USD, NZD/USD, AUD/USD and GBP/JPY. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intaday.

Trade Recommendations:

Expect a possible bullish rally towards 1.1113 or even above.

Graham Osano
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