EUR/USD Technical Analysis For 6th October 2015

Posted On 07 Oct 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

Check the website for more information: https://freshforex.com/analitics/fresh-forecast/forex-correlation-and-Elliott-wave-analysis/issue_69417.html

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 www.freshforex.com