EUR/USD: waiting for local maximum update

eur usd zhdem obnovleniya lokal nogo maksimuma 1

EUR/USD: waiting for local maximum update

EUR/USD: ждем обновления локального максимума

Four-hour chart of EUR/USD. After the correction to the four-hour super trend line, the currency pair resumed upward movement. Now the price is back to a reversal level of 1.1169 (7/8) and we expect a break-down. Therefore, today we are waiting for the update of the local maximum, after which the currency pair is likely to go for correction. In the medium term, we can expect the quotes to rise to the main resistance level of 1.1230 (8/8). This option will be cancelled after fixing the price below the four-hour super trend line.