Remain flat | 16 March 2018

16 March 2018, EUR/USD

Technical observation

On the chart above,EURUSD is rallying above a key zone (1.2215-1.2183),I expect either a correction to the zone or a rise in price towards 1.2503 and a break out above it.I would advise you remain flat and wait for a breakout above 1.2503 or a retracement to (1.2215-1.2183) to buy EUR.In case there’s a clear breakout below the support zone (1.2215-1.2183),wait for a correction to it to confirm the price is on a downward movement before you enter short position towards the key line 1.1935.If 1.1935 gets broken below with a big red candle, I expect a further decline in price towards the lower key line 1.1586.

Technical levels

Resistance levels

R1.1.2357

R2.1.2379

R3.1.2435

Pivot

1.2330

Support levels

S1.1.2302

S2.1.2268

S3.1.2213

Trade signal

Remain flat

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus