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EURUSD Technical Analysis For 28th October 2015

EURUSD Technical Analysis For 28th October 2015 | 28 October 2015

28 October 2015, EUR/USD

EURUSD Technical Analysis For 28th October 2015
Technical View:
EUR/USD is currently trading with a bearish bias. The pair bounced off from our previous day's key resistive trend line as forecasted and is currently trading with a bearish bias. Since this pair is strongly positively correlated to GBP/USD and CHF/HKD, we expect further movements downward in the Euro Markets. All these positively correlated pairs are giving short signals, therefore, we advocate for short positions in this pair but with stops at 1.09239, and the next stop at 1.08535. Ideally, just like in Pound market, wave (c) in this pair should be along one of the above support levels.
Trade Recommendations:

We remain short in this pair but with stops at 1.09239, and the next stop at 1.08535.

Bob Stan
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