Testing the upper border of the horizontal channel (3/8 - 5/8)

14 September 2015, EUR/USD

The pair is testing the upper boundary of the channel (3/8 - 5/8)

The four-hours chart of EURUSD. The pair is currently proof testing the upper border of the horizontal channel (3/8 - 5/8), in which the price has been moving lately. Prolonged consolidation in the narrow range does not favor continuation of flat movement, however as long as the pair is located below the level of (5/8), core expectation is continuation of movement within the channel (3/8 - 5/8) . Once the price hits any border of the channel, this expectation will change.

solutions: buy from 1.1108 level (3/8), sell from 1.1353 (5/8).

Nikolay Krishtopov
FreshForex Analyst
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