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The pair is consolidating above the area of resistance

22 May 2015, EUR/USD

The pais is consolidating above the area of resistance

4 hours’ chart of EURUSD. The pair is going through correction but it is still done below the area of concentration of three Super trend lines and the level (4/8), which perform as resistance levels now. Until the pair is based below this area of resistance, our main scenario is decline of the pair with the target on the point (2/8). Renewal of growth will be only enabled by consolidation of the price above the point (4/8).

FreshForex Analyst
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