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Bears took the lead

Bears took the lead | 08 July 2016

08 July 2016, EUR/USD

Four-hours chart of EURUSD. Buyers have demonstrated their weakness. They managed to hold the price above (1/8), but failed to hole the four-hours line of SuperTrend. This is a serious signal not in favor of bulls. Today, the main plan is a drop with the nearest goal - the main level of support (0/8). If bulls manage to gain a foothold above the four-hours line of SuperTrend, it will be a sign of good potential of bulls. At the same time, the key area of ​​resistance (3/8) would be close enough. Therefore, even in case of breakdown of the four-hours line of SuperTrend, outlook for bulls is rather vague.

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Nikolay Krishtopov
FreshForex Analyst
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