EURUSD Elliot Waves Analysis For 24 May 2016 | 24 5月 2016

24 5月 2016, EUR/USD

EURUSD Elliot Waves Analysis For 24 May 2016

Wave Analysis

EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair broke below the rising channel and is currently trading below a very significant support level 1.12177. We expect the just broken support level to act as a resistance to the current upward rally. A clear breakout above 1.12177 will lead to an acceleration to the upper-side but should not go beyond 1.1283, while a clear rebound from this level will lead to a downward rally towards 1.1166. Ideally, the anticipated downward rally should be the continuation of wave (c) but should not close below 1.1160. This pair should be traded alongside AUD/USD, EUR/HKD and NZD/USD. These pairs have a strong positive correlation of up to +0.95 and will likely move in a similar direction during this intraday.

Trade Recommendations:

As long as the level 1.12177 protects the upper side, look for short positions with your ideal target at 1.1160. A clear breakout above 1.12177 will call for long positions with target at 1.1283 and 1.1324.

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.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus