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Expecting drop to (0/8)

06 July 2016, EUR/USD

Four-hours chart of EURUSD. In the previous review we pointed that the line of the Weekly SuperTrend is the key resistance level. As we can see, touch of this level has marked completion of corrective growth of the pair. Bears have quickly seized the initiative. To date, little support is rendered by the level (1/8), but it is unlikely we will see a reversal of the price at this level. It seems the most likely option is continuation of the downward movement targeting the level of support (0/8)

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
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