EURUSD Elliot Waves Analysis For 16 March 2016 | 16 Marcha 2016
16 Marcha 2016, EUR/USD
Wave Analysis:
EUR/USD is currently trading with a bearish bias. During the previous trading day, Euro made little movements and ended up closing just a few pips away from its day's open price, During this intraday, we still anticipate further movements towards the support zone 1.1027-1.099. A clear rebound from this zone will call for long posistions with our target at 1.1338. A break below 1.09935 will mean we are headed short with our target at 1.0732. This pair should be traded alongside EUR/HKD and AUD/USD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Wait for a clear rebound from the zone 1.1027-1.099 to buy the pair with your ideal target at 1.1338. A break below 1.09935 will mean we are headed short with our target at 1.0732
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.