We expect update of the local High

07 April 2016, EUR/USD

Four-hours chart of EUR USD. Bears managed to push the support line on the four-hours SuperTrend line once again, but failed to retain the price below this level. Bulls realized it at the last moment and pushed the pair back above the line of the four-hours SuperTrend line. To date, it is obvious that buyers will focus on update of the local High. We can only guess what happens next to breakdown of this level. I expect a minor breakdown of local High and a rather strong rollback of the price down. An alternative plan is surge to the level of (6/8).

Trading solutions: sales on touch of the level (6/8)

Nikolay Krishtopov
FreshForex Analyst
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