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Bulls will counterattack

30 March 2016, EUR/USD

Bulls will counterattack

Four-hours chart of EUR USD. Bulls are taking advantage against favorable news background and had run a very successful counterattack. Broken main resistance level (8/8), and the price has entered into overboughtness zone. Bulls demonstrated their strength, but it is unlikely they will be able to drag the price above without correction. Therefore, from the current levels we should expect a downward rollback of the price targeting the level (8/8). From this level we expect enhanced action of buyers and new ascending wave with target at level (+2/8), after which we will have to wait for redrafte of the Murrey levels

Trading solutions: Buy from the level of (8/8)

Nikolay Krishtopov
FreshForex Analyst
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