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EURUSD Elliot Waves Analysis For 30 June 2016

30 June 2016, EUR/USD

EURUSD Elliot Waves Analysis For 30 June 2016

Wave Analysis

EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair traded long and even hit our target resistance level 1.1118. This pair is still petty much bullish on the daily chart and may rally towards 1.1169. As long as the pair trades within the rising channel, we expect an acceleration to the upper side. The current downward rally on the daily chart is a mere pullback and should not go below 1.1064. This pair should be traded alongside NZD/USD, GBP/USD and AUD/USD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish rally towards 1.1169 or even a breakout towards 1.1291.

Graham Osano
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