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Reversal at the level (1/8) is expected

Reversal at the level (1/8) is expected | 22 January 2016

22 January 2016, EUR/USD

Reversal at the level (1/8) is expected

The four-hours chart of EUR USD. The pair has bounced down from the level (3/8), having broken the support area formed by Supertrend lines. As you can see, the goal on the level of (0/8) has not been reached. The price stopped at the reversal level (1/8). Therefore, at the moment we waiting for retest of the level (1/8) and resumption of growth of the pair with a view on the main level of support/resistance (4/8).

Trading solutions: we should close sales at current levels and buy from the level (1/8) in the case of retest

Nikolay Krishtopov
FreshForex Analyst
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