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EURUSD Elliot Waves Analysis For 27 July 2016

27 July 2016, EUR/USD

EURUSD Elliot Waves Analysis For 27 July 2016

Wave Analysis

EUR/USD is currently trading with a slight bearish bias. Yesterday, instead of going long as previously forecasted, the pair retraced to the lower side but is currently bullish and may head to our previously set target level 1.1034. Thus, during this intraday, as long as the pair trades above 1.0991, we expect a possible bullish rally towards 1.1034 or even higher. This pair should be traded alongside EUR/HKD, EUR/SGD, GBP/USD, AUD/USD and NZD/USD. These pairs have a strong positive correlation of up to +0.86 and will have a similar price action during this intraday.

Trade Recommendations:

Remain long with an ideal target at 1.10342

Graham Osano
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