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Bulls are still pulling the price up

19 August 2016, EUR/USD

Four-hours chart EURUSD. The pair continued upward movement. As a result, the level (+2/8) was broken, which led to redrafting of Murrey levels. Currently the pair is standing at 1.1353 (6/8). This level has an average significance, but we may expect a corrective downward rollback from it. As usual, the goal is the four-hours SuperTrend line, from which we can expect a new ascending wave and retest of 1.1353 (6/8). A stronger decline can be considered only if the price consolidates below the he four-hours SuperTrend line.

Solutions: none

Nikolay Krishtopov
FreshForex Analyst
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