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Bulls managed to hold level (0/8)

22 July 2016, EUR/USD

Bulls managed to hold level (0/8)

Four-hours chart of EURUSD. Quite unexpectedly buyers have faced resistance on the four-hours Supertrend line. But, as we see, the counterattack of sellers was successfully repelled. The level (0/8) was held by bulls. Growth with the next target - the intermediate level of resistance (2/8) - is the main option. This option would be canceled if bears manage to push and gain a foothold below (0/8).

Solution: if your trades are not closed based on Stop Out, then keep buying more. If your trades are closed based on Stop Out, you can try to enter at current levels. Put Stop Loss at (0/8), the target is 1.1108 (2/8).

Nikolay Krishtopov
FreshForex Analyst
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