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

24 June 2015, EUR/USD

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

4 hours’ chart of EURUSD. The pair was not able to consolidate above the level (5/8) and in result of decline it has forced the strongest level in the system (4/8). By now we can state that the price has returned to a horizontal channel (3/8 – 5/8). This scenario remains to be the main one until the price is able to consolidate above either under one of borders of the channel.

Nikolay Krishtopov
FreshForex Analyst
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