Declining upward momentum | 08 September 2016
08 September 2016, EUR/USD
Wave Analysis:
The pair continues to rally around a key resistance level 1.1252 despite indications that there is a decline in an upward momentum. As long as the resitance level 1.1252 protects the upperside, we expect an acceleration to the lower side but should not go beyond 1.1152. A clear breakout above 1.1252 may culminate into a possible bullish price movements towards 1.1335 or even higher. Trade this pair alongside USD/CHF. These pairs have an exact opposite price action and will move in a different direction during this intraday.
Trade Recommendations:
As long as the pair trades below 1.1253, look for potetial bearish signals,bearish engulfing candles, to go short with an ideal target at 1.1152
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.
