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EUR / USD: the bulls were unable to hold important level

EUR / USD: the bulls were unable to hold important level | 10 June 2016

10 June 2016, EUR/USD

EUR / USD: the bulls were unable to hold important level4-hourly chart for EURUSD. Correction took place, and it was a very good. There is a breakthrough of support area just below the (5/8) level. It was the main hope for the bulls to continue upward trend. Now that hope is broken to smithereens by sellers efforts. And in order to create a new base for growth the bulls will need to work very well. Today the main scenario is a growth in the level of the (5/8) area on which the bears could make a counterattack. But now I expect a renew of downward movement towards (4/8) level. The first target is the same – (4/8) level.

Nikolay Krishtopov
FreshForex Analyst
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