By: Sergey Logachev
We’ve got a local downward trend on the four-hour chart. Yesterday the price was going up and down in a flat and finally reached a support at 1.0858. It’s likely to see a bearish movement to a support at 1.0809, but then the market might start rising towards a resistance at 1.0922.
The pair has been found a support at 1.0834 and a “V - Top” pattern was formed afterwards, so the market had some reasons to start rising. It's likely that the price will go lower to a support at 1.0809. However, bulls might come back and try to reach a resistance at the downward trend between the levels 1.0858 – 1.0880.
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