Log in

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
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.