manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

A continued correction

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
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .