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The price is approaching the main support level (0/8)

The price is approaching the main support level (0/8) | 26 October 2015

26 October 2015, EUR/USD

The price is approaching the main support level (0/8)

The four-hours chart of EUR USD. The pair continued its downward movement and now has almost reached the main support level (0/8). But as we see, a corrective pullback had started before the price reached this mark. Therefore, the main option we consider is the corrective back to the four-hours SuperTrend line, whereupon we wait for touch of the level (0/8) and a deeper pullback towards the level (2/8).

Trade solutions: purchase from the level (0/8)

Nikolay Krishtopov
FreshForex Analyst
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