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Buyers lost the initiative

16 March 2016, EUR/USD

 Buyers lost the initiative

The four-hours chart EURUSD. Pair has consolidated under of the four-hours Supertrend line. Pair couldn’t broke through this level. Bulls has finally lost the initiative and now possibility of pair return to (1/8) level is very possible. Further pair growth is possible after price consolidation above the four-hours Supertrend line. In this case bulls can return positions which were lost after last 3 trading days and retry to break through (4/8) level.

Trading decisions: hold sells

Nikolay Krishtopov
FreshForex Analyst
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