The price gained a foothold in the oversoldness zone | 20 May 2016
20 May 2016, EUR/USD
Four-hours chart of EURUSD. The pair gained a foothold in oversoldness area. Support is at the SuperTrend week line. Perhaps, this week this level will hold the price from a deeper decline. But in the long term bulls are unlikely to hold the price. At the local level bulls have a chance to run an upward corrective pullback, but the situation is by and large 50/50. Monthly outlook is the downtrend.
Trading solutions: Within a day, you can try to Buy from current levels with a very short Stop Loss set at least behind the last three candles on the chart
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
