Log in

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
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.