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Price is moving into the range (3/8 - 5/8)

28 September 2016, EUR/USD

EUR/USD: Price is moving into the range (3/8 - 5/8)

The four-hours chart EURUSD. Firstly pair bounce upwards from 1.1200 (3/8) level, then we see price bounce from 1.1261 (5/8) level. Pair is ignoring the main support/resistance level (4/8). It is a signal for further price moving into range of horizontal corridor (3/8 – 5/8). We are waiting upwards price bounce from 1.1200 (3/8) level, which pair is testing according to the script. This script would be canceled if pair breaks through and consolidate above upper or under bottom limits of corridor.

Trading decisions: buy from level 1.1200 (3/8) with aim on 1.1261 (5/8) level.

Nikolay Krishtopov
FreshForex Analyst
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