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Still pullback lower.

Still pullback lower. | 30 October 2017

30 October 2017, EUR/USD

Still pullback lower.

Technical Observation:
After a rejection from the monthly resistance line 1.1993, Eur continues to drop in price and and even went below the support line 1.1725. I expect further decline in price towards 1.1465, where I'll be looking for a buy position. If the price descend below 1.1465, then I expect further drop in price towards 1.0500 or even lower. As it is, either remain flat, or look for a short position towards 1.1465. If the price is rejected from 1.1465, then I'll be looking for a long position towards 1.2468
Technical Levels
Resistance levels
R1: 1.1894
R2: 1.1967
R3: 1.2128
Pivot
1.1808
Support Levels
S1: 1.1486
S2: 1.1646
S3: 1.1733
Trade Signal
Remain short towards 1.1465

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Imelda Maseno
Analyst of «FreshForex» company
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