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Expecting the price on the level (0/8)

Expecting the price on the level (0/8) | 12 July 2016

12 July 2016, EUR/USD

The 4-hours' chart of EURUSD. A second attempt to reach the main support level (0/8) has failed. However, bulls made the price move up. This is an important moment for them. But it is too early to talk about the outlooks of a corrective growth. As we see, the pair is still below the four-hours' SuperTrend Line - just above the intermediate level of resistance (2/8). So, drop targeting the main support level (0/8) remains to be the main plan. Alternatively, we consider a surge to (2/8) and from it a start of a new descending wave.

Solutions: no

Nikolay Krishtopov
FreshForex Analyst
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