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The price has stopped at (1/8)

The price has stopped at (1/8) | 08 August 2016

08 August 2016, EUR/USD

Four-hours chart of EURUSD. The level (2/8) has been broken, so the next target for drop is the main support level 1.0986 (0/8), but it is a medium-term goal. In the short run we may see a corrective upward pullback to the four-hours SuperTrend Line. From it a new descending wave may start with the above-mentioned target 1.0986 (0/8). Strong growth and the resumption of medium-term upward movement are not considered, because there are no signs of these plans now.

Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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