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Expecting the price on the level 1.11

Expecting the price on the level 1.11 | 25 May 2016

25 May 2016, EUR/USD

Four-hour chart of EURUSD. Consolidation in a narrow range between the levels (-1/8) and (0/8) is over. Once again, bears did not allow the price to break the level (0/8). Here we should not forget that the price is in the oversoldness zone. Therefore, the final goal for drop is the level of (-2/8), but the downward movement may be accompanied by many upward corrective pullbacks, cause oversoldness zone supports the pair by its entire area.

Trading Solutions: Those who hold sales on the level of 1.1230 (0/8), can hold on, those, who is not in the market, may seek for entry points from the SuperTrend week line (1.1180)

Nikolay Krishtopov
FreshForex Analyst
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