EUR/USD Technical Analysis For 14th October 2015 | 14 October 2015
14 October 2015, EUR/USD
Technical View:
EUR/USD is currently trading with a bullish bias. The pair traded bullish for the better parts of yesterday's intraday but failed to close above our key resistant level 1.1395, we expect a corrective wave from this level downwards probably up to 1.1259, before we go long, sell positions will thus be ideal for trading. This pair is strongly positively correlated to EUR/JPY and EUR/GBP, thus only buy or sell EUR is the other positively related pairs are giving the same signal.
Trade recommendations:
Since Euro has reached our target key resistant and is trading just below it, short positions are ideal, ideally, we expect a begin of a three wave cycle with wave (a) ending at 1.1335. Thus sell the pair but with stops at 1.1335, and the next stop at 1.1295
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
