Trying to gain a foothold in the overboughtness area | 19 May 2016
19 May 2016, EUR/USD
Four-hours chart of EURUSD. The pair has broken a very strong area of support (0/8), and now is trying to gain a foothold in the oversoldness area. This attempt has good chances. Consolidation below (0/8) in the long term opens the way to a deeper drop to (-2/8). The plan with the medium-term growth became no longer relevant yesterday. The most what can expect from bulls is the local upward corrective pullback.
Trading solutions: Those who entered yesterday, can settle their sales and wait for a new strong upward rollback: buy from 109.54 to 110.50 and 112.21 (extraday).
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.
