Upperside limited as long as below 1.05858 | 12 12月 2016

12 12月 2016, EUR/USD

Upperside limited as long as below 1.05858

Wave Analysis:

Following the engulfing candle witnessed on 8th December 2016, Euro traded relentlessly short and is still pretty much bearish on the daily chart. We expect further bearish momentum as long as the price remains below 1.05593; any breach of this level may invalidate the anticipated downward rally and could lead to an acceleration to the upper side but should not go beyond 1.0650. A breakout above this level will push the price further to the upper side. The latter is however, highly unlikely, since other positively correlated pairs, EUR/CHF, EUR/CAD, GBP/USD, EUR/GBP, NZD/USD and AUD/USD, are very bearish and will likely head further to the lower side during this intraday. Only buy or sell Euro if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Expect a possible bearish wave count towards 09920

Bob Stan
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.