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Expecting the price on the level (4/8)

Expecting the price on the level (4/8) | 26 August 2016

26 August 2016, EUR/USD

Four-hours chart of EURUSD. A little space remained for the price to reach support area formed the main support/ resistance level (4/8) and SuperTrend Daily line, but it has bounced up. So far, it fails to cross resistance - four-hours Supertrend line. The most probable option is resumption of the downward movement and retest of the above mentioned areas of support. Continuation of the upward movement will be enabled by a breakthrough and consolidation of the price above four-hours Supertrend line.

Trading solutions: sell from current levels with a stop loss set for yesterday's High. The nearest goal is 1.1230 (4/8).

Nikolay Krishtopov
FreshForex Analyst
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