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Moving in the horizontal channel (3/8 - 5/8)

16 February 2016, EUR/USD

Moving in the horizontal channel (3/8 - 5/8)

Four-hour chart of EUR USD. From the top horizontal border of the channel, the pair has bounced down. At the moment, the price found support on the SuperTrend Day line. From this support we can expect an upward rebound. I will remind that when the price is moving within a horizontal channel (3/8 & ndash; 5/8), the level (4/8) has no influence and effect on the price.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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