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The pair is trying to force the level (0/8) down

The pair is trying to force the level (0/8) down | 06 January 2016

06 January 2016, EUR/USD

The pair is trying to force the level (0/8) down

The four-hours chart of EUR USD. As we expected the pair continued downward movement. At the moment, the price has reached its target on the main support level (0/8). An attempt to break it immediately has failed. However, so far we have not seen a strong upward pullback of the price. Therefore, it is likely that in the near future this level will be broken, but before that the pair can correct upwards slightly.

Trading solution: None

Nikolay Krishtopov
FreshForex Analyst
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