EUR/USD Technical Analysis For 6th October 2015

6 October 2015, EUR/USD

Technical View:
EUR/USD is currently trading with a slight bearish bias. Wave (c) is reluctant to close below 1.1089 to form a complete three wave cycle, as long as the pair trades above this level and also above the support trend line, short positions remains ideal for mast intraday trades. This pair is strong positively correlated to EUR/JPY and EUR/GBP, thus they are expected to move in the same direction, only buy or sell EUR/USD if all the other correlated pairs are giving the same signal.

Trade Recommendations:

If you haven’t sold the pair already, wait and sell below the support trendline, or buy at 1.1089, with stops at the support trendline, and 1.1022

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