EURUSD Elliot Waves Analysis For 4 July 2016 | 04 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
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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