manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Waiting for a further decline

20 May 2015, EUR/USD

Waiting for a further decline

4 hours’ chart of EURUSD. Without any serious efforts, the pair has forced support line formed by the level (4/8) and weekly line of Supertrend. So, it opened the way for a further decline. The next coming target is the level (2/8). Main support level (0/8) shall be considered as the middle-term target. As for resistance, here we traditionally apply 4 hours’line of Supertrend. As possible alternative option, we can expect correction to (4/8), whereupon a downward movement will start again.

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .