EURUSD For 9th November 2015
EUR/USD is currently trading with a very slight bias. From the H4 chart, it is clear that, while the market fell like a brick, upward movements have been accompanied by weak candles. Following the NFP results, the EUR markets fell significantly, and even close below are very significant 1.084, but is currently on a weak upward movements. Following the unanticipated results, we are still reluctant to go long on this pair. We however choose to remain short, but with a TP at 1.055. This downward movement is highly anticipated since another positively correlated pair, EUR/JPY is already trading below a very significant weekly support 132.64.
Remain short in this pair but with TP at 1.055
Check the website for more information: https://freshforex.com/analitics/fresh-forecast/forex-correlation-and-Elliott-wave-analysis/issue_70182.html