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EUR/USD Technical Analysis For 16Th September 2015, H4

EUR/USD Technical Analysis For 16Th September 2015, H4 | 16 September 2015

16 September 2015, EUR/USD

Technical view:
EUR/USD is currently trading with a bearish Bias. The pair continues to trade below our key level 1.13766 and 1.1332, as long as the pair trades below these levels short positions are ideal but only up to to 1.1189, and the next stop at 1.1095. Any movements below 1.1095 will signal further movements below. Traders trading this pair must observe other positively correlated pairs such as GBP/USD, these two pairs have had a strong positive correlation of up to +0.95. This level of correlation is expected to continue for the better part of today.

Trade recommendations:

As long as the pair trades below the key level 1.1332, short positions are ideal, however, should the current wave move upwards and close above 1.1435, then long positions are ideal.

Bob Stan
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