Remain long | 04 Noviembre 2016

04 Noviembre 2016, EUR/USD

Remain long

Wave Analysis

The Euro retraced to thew lower side but could not go beyond the end of the inner corrective wave (iv). The just witnessed retrecement is a flat correction, and should not go beyond the support level $1.1055. This pair remains under bullish pressure following the breakout above $1.1055 and will likely head further to the upper side. Expect a similar wave in GBP/USD, the cable broke above a key resistance level $1.2438 and will likely head further to the upper side. As long as the cable remain above $1.2438, expect a possible bullish price movements in Euro. These pairs have a strong positive correlation of up to +89% and will have a similar price action during this intraday.

Trade Recommendations

If you are not long already, wait and buy upon a clear rebound from $1.1055

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.