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Flat | 15 September 2017

15 September 2017, EUR/USD

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Technical Observation:
For the better parts of this week, Eur has been in a downtrend rallying even lower than I had stated in the other day's analysis. According to the weekly chart above, Eur is currently way below its weekly pivot line 1.1999 and unless there's a breakout above this pivot line, I expect a decline towards the supportive colored 1.1713-1.1465. I'm technically waiting for a rejection from this zone to pick a long position towards 1.2553. If this zone is breached to the lower side, then I may consider a short position towards 1.0454, or even lower.
Technical levels:
Resistance levels
R1: 1.213
R2: 1.2224
R3: 1.2449
Pivot
1.1999
Support Levels
S1: 1.1549
S2: 1.1774
S3: 1.1905
Trade Signal
Wait and Buy Eur within 1.1713-1.1465 with you take profit at 1.2553

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Imelda Maseno
Analyst of «FreshForex» company
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