EURUSD Elliot Waves Analysis For 5 February 2016 | 05 فبراير 2016
05 فبراير 2016, EUR/USD
Wave Analysis:
EUR/USD is currently trading along a very significant daily resistant 1.1208. Unless the price close above 1.123, we will have remain on the sidelines. A close below 1.1164 would mean we are headed short but with our target at 1.1070. Euro should be traded alongside USD/JPY, these pairs have a strong inverse correlation of up to -0.95 and are thus expected to move in an exact opposite direction. Only buy or sell Euro if usd/jpy is giving an exact opposite signal.
Trade Recommendation:
Buy above 1.1236 with your target at 1.129 and 1.137. Sell below 1.1164 with your target at 1.1070
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.
