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EUR/USD: correction is overdue

EUR/USD: correction is overdue | 09 June 2016

09 June 2016, EUR/USD

EUR/USD: correction is overdue4-hourly chart EURUSD. Bulls continue to put the price up, but the dynamics have been lost, I expect some correction. Today, as the primary option we consider corrective pullback down, thus, likely to be held, and the breakdown of the four-hour SuperTrend. But while we are not talking about the great prospects of reducing, as the support area formed at the level of (5/8) is strong enough. If the buyers are able to update the yesterday maximum, this option would be canceled. In this case, we may see continued upward rally. Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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