EUR / USD: the bulls were unable to hold important level | 10 June 2016
10 June 2016, EUR/USD
4-hourly chart for EURUSD. Correction took place, and it was a very good. There is a breakthrough of support area just below the (5/8) level. It was the main hope for the bulls to continue upward trend. Now that hope is broken to smithereens by sellers efforts. And in order to create a new base for growth the bulls will need to work very well. Today the main scenario is a growth in the level of the (5/8) area on which the bears could make a counterattack. But now I expect a renew of downward movement towards (4/8) level. The first target is the same – (4/8) level.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
