EURUSD Elliot Waves Analysis For 8 July 2016 | 08 Julio 2016

08 Julio 2016, EUR/USD

EURUSD Elliot Waves Analysis For 8 July 2016

Wave Analysis

EUR/USD is currently trading with a bearish bias. Yesterday, instead of going long as previously forecasted, the pair retraced to the lower side but could not close below 1.1040. As long as the pair trades above 1.1040 expect an upward acceleration towards 1.1167. A clear breakout below 1.1040 will culminate into a momentum to the lower side but should not go beyond 1.094. This pair should be traded alongside GBP/JPY, AUD/JPY and EUR/JPY. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.

Trade Recommendations:

As long as the pair trades above 1.1040, expect a possible Bullish price movements towards 1.1167. A breakout below 1.1040 will call for short positions with an ideal target at 1.0946

Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.