EURUSD Elliot Waves Analysis For 25 August 2016 | 25 8月 2016

25 8月 2016, EUR/USD

EURUSD Elliot Waves Analysis For 25 August 2016

Wave Analysis

EUR/USD is currently trading with a bearish bias. Yesterday, the pair traded short as previously forecasted and is still pretty much bearish on the daily chart. We expect the massive downward rally witnessed during the previous trading day to be the unfolding of wave (c) but should not go beyond 1.1155, a clear breakout below 1.1155 may drive the price further to the lower side. The current upward rally is a mere retracement and should not go beyond 1.1276, a clear breakout above this level may invalidate the anticipated downward rally. This pair should be traded alongside GBP/USD, AUD/USD, and NZD/USD. These pairs have a strong positive correlation of up to +0.93 and will have a similar price action during this intraday.

Trade Recommendations:

Remain short with the previous day's sell positions with your ideal target at 1.1155.

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.