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The price has stopped at (4/8)

03 August 2016, EUR/USD

Four-hours chart of EURUSD. Bulls have successfully stormed the local key resistance level. The level has been broken, the pair is trying to gain foothold above it. But, given the fact that the price is now at the top level of support and resistance (4/8), we can expect a corrective pullback down to (5/8) from current positions. This level will determine the outlook of the upward movement

Trading solutions: Goal on the main support and resistance level 1.1230 (4/8) has been reached; profit should be settled.

Nikolay Krishtopov
FreshForex Analyst
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