EURUSD Elliot Waves Analysis For 29 December 2015 | 29 December 2015
29 December 2015, EUR/USD
Wave Analysis:
EUR/USD is currently trading with a slight bearish bias. During the previous trading day, euro made little movements towards our set targets of 1.081, and 1.101. We are waiting for a clear move above 1.101, to buy with targets above 1.107, and a clear move below 1.081 to sell with targets below 1.055. This pair should be traded alongside other pairs such as EUR/HKD, EUR/SGD and GBP/USD. These pairs have a strong positive correlation of up to +0.98 and are thus expected to have a similar price action.
Trade Recommendation:
Waiting for a clear move above 1.101, then buy with targets above 1.107, and a clear movement below 1.081 then sell with targets below 1.055
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.
