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A downward movement continues

A downward movement continues | 17 October 2016

17 October 2016, EUR/USD

Four-hours chart of EURUSD. The downtrend continues. On the second attempt sellers could push major support and resistance level 1.0986 (4/8). This is the signal of continuation of the current downward movement. The next medium-term goal is the level of 1.0864 (2/8). In the short run, the goal for drop is 1.0925 (3/8). There are no signs of upward reversal. We will consider growth of the pair only if the price again can gain a foothold above the resistance - SuperTrend Day line

Trading solutions: None

Nikolay Krishtopov
FreshForex Analyst
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