manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Log in

Bulls could not hold the important level

04 August 2016, EUR/USD

 Four-hours chart of EURUSD. The pair has bounced off from the main support and resistance level (4/8). The local level of support (5/8) important for bulls was broken. Further medium-term growth is less probable. But if we consider the situation at the local level, we should not wait drop from the current position without pullbacks, too. Therefore, as of today the primary option is growth to the four-hours' SuperTrend line and from this position we should expect resumption of the downward movement.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .