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Still moving in channel (3/8 - 5/8)

10 June 2015, EUR/USD

Still moving in channel (3/8 - 5/8)

4 hours’ chart of EURUSD. For the last 24 hours, no significant changes has taken place on the chart. The pair is still based in a horizontal channel (3/8 – 5/8). Core option also remains the same: continuation of movement within this channel. Only when the price manages to consolidate on one of the boundaries of this channel, this option will be cancelled. Until that, boundaries of this channel represent strong levels of support and resistance, whereas the level (4/8) no longer impacts on the price.

Nikolay Krishtopov
FreshForex Analyst
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