A continued correction | 31 May 2016
31 May 2016, EUR/USD
Four-hour chart of EURUSD. The pair is moving in line with our expectations. From the level (3/8), it has started upward correction. At the top there are some fairly strong resistance levels, so we do not expect a strong growth. Most likely, bears will again seize the initiative at the Weekly SuperTrend line, from where we can expect a new descending wave targeting (2/8). The current downward trend will only be broken by consolidation of the pair above the level (4/8).
Solution: sell from the day SuperTrend line 1.1175 with the nearest goal (2/8)
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.
