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Bulls are still pulling the price up

Bulls are still pulling the price up | 01 April 2016

01 April 2016, EUR/USD

Four-hours chart of EUR USD. Bulls are still pulling the price up, contrary to expectations. The situation is very uncertain, taking into the account today's news release, so it is better to stay out of the market. If we consider the situation in terms of the system, the priority is given to growth of the pair as the price is held above the four-hours Supertrend Line. Target is the level (6/8), because it is the closest level that can impact on the price. But I am in favor of the drop scenario, for that it is enough for bears to pull the price below the four-hours Supertrend Line.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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