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Expecting the price on the level (4/8)

24 August 2016, EUR/USD

Four-hours chart of EURUSD. As we expected, retest of the level 1.1353 (6/8) took place. The pair has failed to refresh local High. The second downward bounce from 1.1353 (6/8) confirms its strength and now the main plan is drop. The main goal is support and resistance level 1.1230 (4/8), which, along with daily SuperTrend line is forming a strong support area. Continuation of the upward movement in the medium term will be relevant only by consolidation above (6/8).

Solutions: none

Nikolay Krishtopov
FreshForex Analyst
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