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The pair shot from the oversoldness area

The pair shot from the oversoldness area | 04 December 2015

04 December 2015, EUR/USD

The pair shot from the oversoldness area

The four-hour chart of EUR USD. Just before reaching the level (-2/8), the pair shot up. Currently the pair stopped at the level of (2/8), which will not be able to restrain the strong trend movement for a long time. Therefore, we regard correction to the four-hours SuperTrend line as the main option. it also implies resumption of growth with the first target based at the level of (2/8).

Trading solution: None

Nikolay Krishtopov
FreshForex Analyst
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