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Descending movement is expected to renew from (4/8)

Descending movement is expected to renew from (4/8) | 03 June 2015

03 June 2015, EUR/USD

Descending movement is expected to renew from (4/8)

4 hours’ chart of EURUSD. Having broken the intermediate level of resistance from bottom to top (2/8), the pair has grown. The next moment, the price is approaching the strongest level in the system (4/8). We expect that descending movement will be renewed from this level. Only when price gets consolidated above (4/8), we can consider possibilities of a further growth.

Nikolay Krishtopov
FreshForex Analyst
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