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Bulls are losing initiative

Bulls are losing initiative | 06 April 2016

06 April 2016, EUR/USD

Four-hours chart of EUR USD. We have not seen decisive action on the part of bulls. The last few days they have been mostly defensing the previously won positions and tried to hold the prices above the four-hours line of SuperTrend. Bears pressed Bulls to the defense level. The probability of breakdown of this support is now considerably increased and the main option is resumption of the downward movement

Trading Solutions: closing yesterday's purchases at current levels

Nikolay Krishtopov
FreshForex Analyst
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