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Wait for the exceeded movement down

Wait for the exceeded movement down | 14 August 2015

14 August 2015, EUR/USD

Wait for the exceeded movement down

4 hours’ chart of EURUSD. The pair bounced up from the support area formed by level (6/8), and the line of 4-hours Supertrend. At the moment, we can expect even a small growth to the week Supertrend line and the continuation of the descending movement with the target at the main support/resistance level (4/8). This scenario will be cancelled by consolidation of the price above the daily SuperTrend.

Nikolay Krishtopov
FreshForex Analyst
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