EURUSD H4 analysis 2016-05-4weekly

29 May 2016, 15:52
oleksandr bilokon


Analysis (Weekly):

Last week the couple began 1.1212 (Open) with testing 1/1219 (EMA521) and reaching 1.1242 (High) followed by breakdown of the estimated weekly support 1.1185 (S1 W1) to a mark of 1.1132 / 28. After that was accomplished to the growth rate (S1 W1) and the expected pullback down to 1,1110 (Low) and 1.1113 (Close).

But OsMA indicator confirming the lower activity bears, although channel (down H4) and corrected, prices reached 38,2% FIBO - the level of reduction that is likely turning point. 

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