Flat | 12 October 2017

12 October 2017, EUR/USD

Flat

Technical Observation:

Eur continues to rise despite the expectations that it could bounce off from 1.1819-1.1884. Unless there's a clear breakout above 1.1884, I remain optimistic that Eur could get rejected to the lower side. But if the price breaks above 1.1884, then the price could rise even higher towards 1.2045, which is a key monthly resistance line. If this should be the case, then the price could form a double top around this zone.

Technical Levels

Resistance levels

S1: 1.1929

S2: 1.2043
S3: 1.2263
Pivot
1.1875
Support Levels
S1: 1.1383
S2: 1.1603

S3: 1.1709

Trade Signal

Flat

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Imelda Maseno
Analyst of «FreshForex» company
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