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EURUSD Elliot Waves Analysis For 26 July 2016

26 July 2016, EUR/USD

EURUSD Elliot Waves Analysis For 26 July 2016

Wave Analysis:

EUR/USD is currently trading with a bullish bias. Yesterday, the pair traded long as previously forecasted but is yet to reach our target resistance level 1.1034. During this intraday, we expect a possible bullish price rally towards 1.1034 or even higher to 1.1054. This pair should be traded alongside NZD/USD, GBP/USD, AUD/USD and AUD/JPY. 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 with your targets at 1.1054.

Graham Osano
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