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03 October 2016, EUR/USD

EUR/USD: Uncertainty is very high

The four-hours chart EURUSD. Pair went through the horizontal corridor (3/8 – 5/8), but it returned back very fast. Now it is difficult to say would further moving continue into this corridor. The price reaction on the main support/resistance level is important(4/8). If we see down pullback the moving into horizontal corridor would be canceled and into medium term perspective we could see price moving into the area of the main support level (0/8). If pair goes through level (4/8) without delays in medium-term possibility we could see flat into limits (3/8 – 5/8).

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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