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The price is trying to break the channel (3/8 - 5/8)

14 May 2015, EUR/USD

The price is trying to break the channel (3/8 - 5/8)

The price is trying to break the channel (3/8 - 5/8)

4 hours’ chart of EURUSD. Apparently, the movement in the horizontal channel (3/8 & ndash; 5/8) is nearing its completion.The pair is currently testing the upper limit of the channel and the probability of its breakdown is very high at this moment. If the price can settle above this level, there will be ascending impulse here. Alternatively, there will be a price rollback from (5/8) level and movement inside this channel.(3/8 – 5/8).

Nikolay Krishtopov
FreshForex Analyst
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