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Waiting for the initiative from sellers

Waiting for the initiative from sellers | 02 June 2016

02 June 2016, EUR/USD

Four-hours chart of EURUSD. The pair reached resistance area formed by SuperTrend lines plus a strong resistance level (4/8) is just above there. As long as the price does not consolidate above (4/8), talking about a strong corrective pullback and even more so - a reversal - is too early. Therefore, the medium-term drop to (2/8) remains to be priority.

Trading solutions: A corrective pullback took place, we have entered the market, waiting for the reaction of the price to resistance area, to which the price has neared. The nearest goal of drop is 1.0986 (2/8).

Nikolay Krishtopov
FreshForex Analyst
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