EURUSD Elliot Waves Analysis For 11 January 2016 | 11 January 2016
11 January 2016, EUR/USD
Wave analysis:
EUR/USD is currently trading with a bullish bias. During the previous trading day, Euro traded short and ended up making a lower low below 1.081 but could not close below it. The pair is currently trading just below a very significant resistant level 1.093. We are waiting for a clear break above this level to go long with an ultimate target at 1.1025. Otherwise, as long as 1.093 remains as a strong resistant level, we will be keen to look for long short positions from this level with our target at 1.055 . This pair should be traded alongside other pairs such as EUR/HKD, EUR/GBP, AUD/USD, and EUR/CHF. These pairs have a strong positive correlation of up +0.95 and are thus expoected to have a similar price action. Only buy or sell Euro if all the other positively correlated pairs are giving the same signal.
Trade Recommendations
Wait for a clear break above 1.093 then go long with an ultimate target at 1.1025. Otherwise, as long as 1.093 remains as a strong resistant level, look for long short positions with targets at 1.055
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
en 
cn 
id 
ar 
ru 
vn 
es 
pt 
kz 
ua 
tj 
uz 
az 
ms 