Meanwhile bears control the situation

12 May 2016, EUR/USD

Four-hour chart of EURUSD. Taking into account volatility of the past few days, the price worked up quite well. However, its drop remains to be the main expectation, as the chart shows advantage of sellers. The first target is at (2/8). The medium-term goal lies at the main level of support (0/8). This option will be canceled by update of yesterday High. In this case, we should wait the price to be at the main level of support / resistance (4/8)

Trading solutions: Sell from current levels with Stop Loss based at the yesterday's High.

Nikolay Krishtopov
FreshForex Analyst
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