The pair has come to the local support area | 19 September 2016
19 September 2016, EUR/USD
The four-hours chart EURUSD. Pair long time has consolidated into narrow corridor near the main support/resistance level (4/8). As a result price went down . Pair has strong decreasing movement. Now support level of the price is local support area between (2/8) and (3/8) levels, so we can expect correction upwards pullback. But in the medium-term period situation isn’t friendly for buyers so in the nearest resistance area we are expecting beginning of new decrease wave.
Trading decisions: no
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.
