EURUSD Elliot Waves Analysis For 9 February 2016 | 09 فبراير 2016
09 فبراير 2016, EUR/USD
Wave Analysis:
EUR/USD is currently trading along a very significant resistant level 1.121. Unless the price closes above 1.1235, we will be keen to sell the pair but with our targets at 1.1134 and1.1073. This pair should be traded alongside other positively correlated pairs such as EUR/AUD, EUR/CAD, EUR/GBP, and EUR/ZAR. These pairs have a strong positive correlation of up to +0.92 and are thus expected to have a similar price action. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.
Trade Recommendations:
As along as Euro trades below 1.1215, remain short but with your targets at 1.1134 and1.1073. Only buy above 1.1235 with your target at 1.1344 and1.1471
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.
