Waiting for a further decline | 20 May 2015
20 May 2015, EUR/USD
4 hours’ chart of EURUSD. Without any serious efforts, the pair has forced support line formed by the level (4/8) and weekly line of Supertrend. So, it opened the way for a further decline. The next coming target is the level (2/8). Main support level (0/8) shall be considered as the middle-term target. As for resistance, here we traditionally apply 4 hours’line of Supertrend. As possible alternative option, we can expect correction to (4/8), whereupon a downward movement will start again.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
