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Expecting the price on the level (-2/8)

Expecting the price on the level (-2/8) | 26 May 2016

26 May 2016, EUR/USD

Four-hours chart of EURUSD. The pair is moving in the oversoldness zone, which supports the price by its entire area. So, the current corrective pullback is not a surprise. At the same time, we can see that the price has already reached the first resistance level, which is represented by the Weekly SuperTrend line. Here bears are likely the seize the initiative again. We should not exclude the alternative option with a stronger upward pullback and retest of the next mark (0/8).

Trading Solutions: Those who hold sales from the level 1.1230 (0/8), can hold on. Those who are not in the market, can try to sell from current levels with a short Stop Loss set for the today's High.

Nikolay Krishtopov
FreshForex Analyst
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