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We are waiting for test of the (2/8) level

We are waiting for test of the (2/8) level | 04 March 2016

04 March 2016, EUR/USD

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We are waiting for test of the (2/8) level

The four-hours chart of EURUSD. After a protracted consolidation on (1/8) level, the pair has bounced off this level. The resistance area was broken through. This area was formed by the four-hours Supertrend line and the weekly Supertrend line. At the moment pair is testing the resistance on the daily Supertrend line. The small down pullback has happened from this line. But it is possible that this level would be broken through and the pair would rising to (2/8) level.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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