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EUR/USD Technical Analysis For 1st October 2015, H4

EUR/USD Technical Analysis For 1st October 2015, H4 | 01 October 2015

01 October 2015, EUR/USD

EUR/USD Technical Analysis For 1st October 2015, H4
Technical View:
EUR/USD is currently trading with a bearish bias. The pair bounced off from a key resistance level 1.1261, and is currently headed short. We anticipate that as long as the pair trades below this level, short positions are recommended but with stops at 1.1080 and the support trend line, any clear movements below the support trend line will signal further movements to the lower side. Traders trading this pair should also observe other pairs such as EUR/CAD for positive correlation.

Trade recommendations:

If you haven't sold the pair already, sell below 1.1080, with stops at the support trend line and the next stop at 1.1029. Basically, wave (c) should close below wave (a)

Bob Stan
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