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Wait the price to hit level (6/8)

Wait the price to hit level (6/8) | 16 October 2015

16 October 2015, EUR/USD

Wait the price to hit level (6/8)

The four-hours chart of EUR USD. The pair failed to consolidate above the level (8/8), and jumped down. Currently the pair is at the intermediate level of support (6/8), which can provide good support for the pair in its correctional movement. Therefore, the main option is the rebound of the price up on the level of (6/8). Therefore, in case of breakdown of the level (6/8) from the top to bottom, this option will be canceled.

Trading Solution: None

Nikolay Krishtopov
FreshForex Analyst
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