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Is correction over?

29 July 2016, EUR/USD

Four-hours chart of EURUSD. The goal on the intermediate level of resistance (2/8) has been reached. It is not the strongest level of the system, but it has the power to reverse correctional movement. Moreover, the first proof of a rebound from this level has already been received. Therefore, today the main plan is drop. The first goal is the four-hours SuperTrend line. Now it is a key support local level for bulls, its breakthrough will bring another retest of major support level (0/8).

Trading solutions: The goal - 1.1108 (2/8) - has been reached, there you had to settle your purchases. On this level, you can try to sell, if the price rolls back to it. Set a Stop Loss at (2/8). The next goal is the four-hours SuperTrend line (1/8), the medium-term goal is 1.0986 (0/8)

Nikolay Krishtopov
FreshForex Analyst
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