An opportunity for growth

20 June 2016, EUR/USD

Four-hours chart of EURUSD. The pair has reached the nearest target for growth - (6/8). As you can see, bulls are now trying to consolidate above that level. If they succeed, the upward movement will go on. This time, the goal is the reversal level (7/8). In previous times the price used to rebound off it confirming strength of this level. Now the price is going to retest this mark. By its results, we can consider the future direction of the price movement. Drop can be considered only if the price is not be able to gain a foothold above(6/8).

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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