EUR/USD Technical Analysis For 18th August 2015, H4 | 18 August 2015

Technical view:

EUR/USD the pair is trading with a bearish bias. As long as the the pair remains below the key level 1.1075 short positions are recommended. Besides, EUR had a strong, high positive correlation (+0.76) with GBP. It is expected that the two will certainly follow the same direction. In an alternative scenario, should the price crash above the level 1.1075, long positions are recommended but with the first stop at 1.1133 and a second stop at 1.1213.

Trading recommendation:

If you've not already sold the pair, wait for the price to bounce from 1.1075, then sell the pair but with the first stop at 1.0973 and the second stop at the support trend line.