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Expecting the price on the level (4/8)

02 September 2016, EUR/USD

Four-hours chart of EURUSD. The pair is going through correction and broke resistance area formed by the four-hours and weekly SuperTrend lines. Breakdown of resistance area indicates a continuation of the current upward movement. Next goal is the main support and resistance level (4/8). To continue the upward movement in the medium term bulls need to break through the level (4/8), and consolidate there. Otherwise, from the level of (4/8) we can see beginning of a new descending wave

Trading solutions: None

Nikolay Krishtopov
FreshForex Analyst
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