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

EURUSD Elliot Waves Analysis For 4 July 2016

04 July 2016, EUR/USD

Wave Analysis:
EUR/USD is currently trading with a bullish. During the previous trading day on 1st July, wave [c] traded long as previously forecasted and even hit our target resistance level 1.1167. During this intraday, we expect a possible bearish reversal from this level to go short, while a clear breakout above this target will lead to an upward momentum towards 1.1276. This pairs should be traded alongside EUR/JPY, NZD/USD and GBP/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 long but only up to 1.1167, a break above this target will push the price further to the upper side but only up to 1.1276

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

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.