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Expecting the price at (6/8)

Expecting the price at (6/8) | 23 August 2016

23 August 2016, EUR/USD

Four-hours chart of EURUSD. The pair broke the local resistance - the four-hours' SuperTrend line. This is an indicator of buyers' strength, so the main option is growth of the pair. Goal for growth is the nearest local High, after a false breakdown of this level a downward reversal is expected. Continuation of the upward movement is the alternative one. It will be relevant in the case of consolidation above (6/8).

Trading solutions: sell on breakthrough of 1.1365 and return to this level.

Nikolay Krishtopov
FreshForex Analyst
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