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Neared a key resistance level

Neared a key resistance level | 01 August 2016

01 August 2016, EUR/USD

Four-hours chart of EURUSD. For a couple of days, the pair has reached the key resistance level - the weekly SuperTrend line. If bulls manage to break through and consolidate above this level, they will open a way to further growth in the medium run to (1/8), i.e., to the levels where the pair was before Brexit. But it's the mid-term outlook. Today we're waiting for a false break of Friday's High and correction.

Trading solutions: Sales from 1.1200, we close a position at the price of the end of the trading day.

Nikolay Krishtopov
FreshForex Analyst
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