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Sellers have seized the initiative

23 September 2016, EUR/USD

EUR/USD: Sellers has taken the initiative

The four-hours chart EURUSD. Pair has reached the main support/resistance level (4/8), but it couldn’t consolidate above the level. Sellers have taken initiative and pull price down. There is no precondition for price upwards pullback from the current levels so as a priority we consider possibility with pair decrease. The aim for decreasing is the main support level (0/8), in this situation level (2/8) couldn’t get important support to the price. This possibility would be canceled if pair breaks through and consolidate price above (4/8) level.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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