EURUSD Technical Analysis For 4th November 2015 | 04 نوفمبر 2015
04 نوفمبر 2015, EUR/USD
Technical View:
EUR/USD is currently trading with a bearish Bias. The pair bounced off from a key resistant level 1.0183, but could not close below 1.0819, we still expect further downward movements to this level. Ideally, wave ((c)) should close at 1.0819 or even below. Traders trading this pair should also observe other pairs such as EUR/HKD and GBP/USD for positive correlation. These pairs have had a strong positive correlation of up to +0.96. They are thus expected to continue moving in the same direction.
Trade Recommendations:
Remain short in this pair but with stops at 1.08899, and the next stop at 1.08109
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.
