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Trying to gain a foothold in the oversoldness area

23 May 2016, EUR/USD

Four-hours chart of EURUSD. The pair is in oversoldness zone. Now the price is testing the resistance at (0/8), which borders the price in the oversoldness zone. To save current dynamics, bears need to take the initiative at current levels and not let bulls to gain a foothold above the mark (0/8). As long as price is below the level of (0/8), drop is the primary option. The nearest goal lies at the Weekly Supertrend line.

Trading solutions: Sales from the current levels with a short Stop for the today's High

Nikolay Krishtopov
FreshForex Analyst
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