EURUSD Elliot Waves Analysis For 16 June 2016 | 16 Junio 2016

16 Junio 2016, EUR/USD

EURUSD Elliot Waves Analysis For 16 June 2016

Wave Analysis:

EUR/USD is currently trading with a bullish bias. Yesterday, wave (c) ended a bit earlier than expected, and instead of going short, the pair is currently retracing to the upper side. We expect the current upward movement to be a mere retracement, and should not go above the resistance level 1.1291. A clear close above this target will lead to an acceleration to the upper side but should not go above 1.1403. This pairs should be traded alongside AUD/USD, NZD/USD and GBP/USD. These pair have a strong positive correlation of upto +0.89 and will have a similar price action during this intraday.

Trade Recommendations:

If you are not long already, wait for a clear breakout above 1.1291, then go long with your target at 1.1403, a clear rebound from the resistance level 1.1291 will lead to an acceleration to the lower side but with an ultimate target at 1.1142.

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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus