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Bears control the situation

Bears control the situation | 15 August 2016

15 August 2016, EUR/USD

Four-hours chart of EURUSD. Bulls have made another (yet failing) attempt to gain a foothold above (6/8). At some point, they could even cross (1/8), but bears were quick to come, and the price has returned to (6/8). The main plan is decline. A slight upward pullback is possible from current positions, but not higher the Weekly SuperTrend line, whereupon we should wait for a new descending wave.

Trading solutions: sell from Weekly SuperTrend line 1.1182 with a view on the main level of support and resistance 1.1108 (4/8)

Nikolay Krishtopov
FreshForex Analyst
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