TRADING
TIPS :
EUR/USD is curently trading with a
bullish bias. Unfortunately, the pair hit our stop loss and is
currently trading above it. Following the break above the resistance
level 1.1323, we will remain long with our next target at 1.1492.
However, in case the price turn bearish and ends up closing below
1.1323, then we will be looking for short positions with our target
at 1.1175. A break below 1.1175 will push the price further low to
1.0822. This is however unlikely since the price is yet to fulfill
the two waves wave (c) and wave ((c)). Both the two waves should end
atleast along the level 1.1492. This pair should be traded alongside
GBP/USD. This pairs have a strong positive correlation of up to +0.96
and will likely move in a similar direction during this intraday.
Only buy or sell Euro, if the other positively correlated pair is
giving the same signal.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4422 TARGET 1.4442 1.4472 SL BELOW 1.4392
SELL
GBPUSD BELOW 1.4311 TARGET 1.4291 1.4261 SL ABOVE 1.4341
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1412 TARGET 1.1432 1.1462 SL BELOW 1.1382
SELL
EURUSD BELOW 1.1365 TARGET 1.1345 1.1315 SL ABOVE 1.1395
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