EURUSD Elliot Waves Analysis For 17 December 2015

Wave Analysis:

EUR/USD is currently trading with a bearish bias. The pair crossed and closed below a very significant demand level 1.09239 but could not not reach the support level 1.08083. We are waiting for further downward movements towards this level or even below it for us to continue short. We will also be looking for potential buy positions around this level. If you want to trade Euro successfully, consider taking a closer look at other pairs such as EUR/JPY, EUR/HKD, and CHF/HKD. These pairs have a strong positive correlation of up to +0.90 and are thus expected to have a similar price action. Only buy or sell Euro if all the other currency pairs are giving the same signal.

Trade Recommendation:

Look for further sell positions below 1.0808 with targets below 1.0556. On in case of a clear bounce along 1.0808, then buy with your target at 1.092
Check the website for more information:

About the Author
"FreshForex" company started to work on the foreign exchange market in 2004. Today, "FreshForex" is one of top forex brokers on the market of Internet forex service. Continuous improvement of trading conditions, release of popular financial instruments, a tender approach to each client - all this ensures rapid development of our Forex broker and "FreshForex" brand in the community of traders. For more information visit our website at

Related Posts

Leave a Reply