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The pair has entered overboughtness area

The pair has entered overboughtness area | 21 August 2015

21 August 2015, EUR/USD

entered the overbought area

The four-hours' chart of EURUSD. The pair has not only reached the nearest objective on the week SuperTrend line, but it also easily broke through it at the same time entering into the overboughtness zone. Currently the pair is testing the level (+ 1/8). This low level has no effect on the price, but it has one feature. If the pair passes the level (8/8) smoothly, we can expect that it would retest (8/8) on the back side. Therefore, from the level (1/8 +) we expect a roll back to (8/8) and resumption of the upward movement.

Nikolay Krishtopov
FreshForex Analyst
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