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Possibilities for growth

28 June 2016, EUR/USD

Four-hours chart of EURUSD. Bulls managed to hold the price above the main support level (0/8). This is a very important local victory for them. In general, today we can expect a further corrective growth. The nearest goal is the intermediate level of resistance (2/8). So, the downward movement will be enabled by the breakdown and consolidation of the price in the oversoldness zone. To date, this option is considered only as the alternative one. If we consider the situation in the medium run, then as long as the price is under the weekly SuperTrend line, the downward movement remains to be the core option.

Trading solutions: no

Nikolay Krishtopov
Analyst of «FreshForex» company
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