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

We're short from 1.05842

24 November 2016, EUR/USD

We're short from 1.05842

Wave Analysis:

EUR/USD is currently trading with an increasing bearish momentum. Following the breakout below 1.05842, we expect further bearish wave count towards 1.0429 and possibly lower . The anticipated downward rally is the continuation of the motive wave (5) and the impulsive wave (c) towards 0.9919. As long as the level 1.05842 protects the upper side, a bearish wave count towards 0.9919 is inevitable. Expect an exact opposite wave count in USD/CHF, USD/JPY and USD/CAD. These pairs have a strong negative correlation of up to -86% and will move in opposite price actions during this intraday. As long as the latter pairs remain bullish, remain short in euro.

Trade Recommendations:

We're short from 1.05842 with an ultimate target at 0.9919.

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.