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Moving to the key resistance level

Moving to the key resistance level | 15 July 2016

15 July 2016, EUR/USD

Moving to the key resistance level

Four-hours chart of EURUSD. Bulls managed to push (2/8) from the bottom to top, and even to test (3/8). At the local level, the rising dynamics is maintained. It is too early to say whether bulls will be able to cross the key resistance level, now represented by the weekly SuperTrend line. But, it is likely buyers aim to make another retest of the above mentioned resistance level. This scenario will be canceled if bears manage to return the price to (2/8).

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Nikolay Krishtopov
FreshForex Analyst
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