Bulls could not hold the important level | 04 August 2016
04 August 2016, EUR/USD
Four-hours chart of EURUSD. The pair has bounced off from the main support and resistance level (4/8). The local level of support (5/8) important for bulls was broken. Further medium-term growth is less probable. But if we consider the situation at the local level, we should not wait drop from the current position without pullbacks, too. Therefore, as of today the primary option is growth to the four-hours' SuperTrend line and from this position we should expect resumption of the downward movement.
Trading solutions: no
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.
