EURUSD Elliot Waves Analysis For 15 June 2016 | 15 June 2016
15 June 2016, EUR/USD
Wave Analysis:
EUR/USD is currently trading with a slight bullish bias. Yesterday, wave (c) traded perfectly short as previously forecasted but is yet to reach our target support level 1.1142. We expect the current upward rally to be a mere retracement and should not close above 1.1244 from where we'll be looking to continue with wave (c) towards 1.1142. This pair should be traded alongside NZD/USD, AUD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.
Trade Recommendations:
Wait for the current upward pullback to end around 1.1244, then go short with your target at 1.1142.
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.
