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Near a strong support area

Near a strong support area | 25 August 2016

25 August 2016, EUR/USD

Four-hours chart of EURUSD. After retest of the level (6/8), the pair turned to correction and by now has almost reached a rather strong support area formed by the main support / resistance level (4/8) and SuperTrend Daily line. This is quite a strong support area able to turn the price up again, the more so a local upward movement remains to be a prior option. The goal of growth remains to be the same - (6.8). This option would be canceled by breakdown and consolidation of the pair below (4/8). If this scenario comes true, continuation of the upward movement will be a big question.

Trading solutions: None

Nikolay Krishtopov
FreshForex Analyst
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