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Decline

20 April 2016, EUR/USD

Four-hours chart of EUR USD. Growth of the pair was anticipated. Growth with no pullbacks was less expected, so there were no opportunities to enter the market. With regard to the current situation, most likely we are waiting for a strong downward rollsback of the price. At this time, support is at the SuperTrend Daily line. From this level we can expect buyers' initiative and resumption of growth. The alternative plan is continuation of the upward movement from current levels. In this case we have no choice but just to watch this movement, because entering from current levels is very dangerous.

Trading solutions: buying from the SuperTrend Daily line

Nikolay Krishtopov
FreshForex Analyst
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