The price is overbought | 17 August 2016

17 August 2016, EUR/USD

Four-hours chart of EURUSD. The pair has shown a fairly strong growth, breaking the main resistance level (8/8) and having consolidated in the overboughtness zone. This zone shows a strong resistance by its entire area, so the upward movement often involves downward corrective pullbacks and reversals of strong trend moves. At the same time, on a breakthrough of the level (8/8) and stop of the price at the level of (1/8), the level (8/8) on the reverse side is often retested. This is the main version we consider now

Trading solutions: None

Nikolay Krishtopov
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus