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A continued correction

A continued correction | 31 May 2016

31 May 2016, EUR/USD

A continued correction

Four-hour chart of EURUSD. The pair is moving in line with our expectations. From the level (3/8), it has started upward correction. At the top there are some fairly strong resistance levels, so we do not expect a strong growth. Most likely, bears will again seize the initiative at the Weekly SuperTrend line, from where we can expect a new descending wave targeting (2/8). The current downward trend will only be broken by consolidation of the pair above the level (4/8).

Solution: sell from the day SuperTrend line 1.1175 with the nearest goal (2/8)

Nikolay Krishtopov
FreshForex Analyst
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