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Failed to consolidate under the level (2/8)

Failed to consolidate under the level (2/8) | 08 July 2015

08 July 2015, EUR/USD

Failed to consolidate under the level (2/8)

4 hours’ chart of EURUSD. The pair has broken the level (2/8). However, we see that it has failed to consolidate under this level. So in a short run we can expect a correctional pullback of the price upwards with the target around a day Supertrend line. In a middle run, the main scenario considered by us is still decline of the price with the first target based around the point (0/8).

Nikolay Krishtopov
FreshForex Analyst
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