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Bears control the situation

18 July 2016, EUR/USD

Four-hours chart of EURUSD. The price has failed to retest the resistance area formed by the daily and weekly SuperTrend lines crossbar. Bulls were unable to drag the price down to this level. Bears seized the initiative and pushed the price down. The best thing the buyers can show now it the flat with the main level of support (0/8) as its bottom border and the Weekly SuperTrend line as its upper border. The worst-case scenario for them - resumption of the downward movement aiming to update the local Low.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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