The price is overbought | 17 August 2016
17 August 2016, EUR/USD
Four-hours chart of EURUSD. The pair has shown a fairly strong growth, breaking the main resistance level (8/8) and having consolidated in the overboughtness zone. This zone shows a strong resistance by its entire area, so the upward movement often involves downward corrective pullbacks and reversals of strong trend moves. At the same time, on a breakthrough of the level (8/8) and stop of the price at the level of (1/8), the level (8/8) on the reverse side is often retested. This is the main version we consider now Trading solutions: None
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.
