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The pair is going through correction

29 May 2015, EUR/USD

The pair is going through correction

4 hours’ chart of EURUSD. As we expected, in the result of a correctional bounce the pair has broken4 hours’ Super trend line from bottom to top. Pace of decline has been lost, so this line won't work for sime time. As for a correctional bounce, it is not over yet. We are waiting when the price reaches the point (2/8), whereupon we can expect a new ascending wave. As an alternative option, we consider the plan where reversal pattern will work and lead to growth to the point (4/8).

Nikolay Krishtopov
FreshForex Analyst
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