Log in

The pair has come to the local support area

19 September 2016, EUR/USD

EUR/USD: Pair has gone to the local support area

The four-hours chart EURUSD. Pair long time has consolidated into narrow corridor near the main support/resistance level (4/8). As a result price went down . Pair has strong decreasing movement. Now support level of the price is local support area between (2/8) and (3/8) levels, so we can expect correction upwards pullback. But in the medium-term period situation isn’t friendly for buyers so in the nearest resistance area we are expecting beginning of new decrease wave.

Trading decisions: no

Nikolay Krishtopov
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.