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Remain flat

Remain flat | 04 May 2018

04 May 2018, EUR/USD

Remain flat

Technical observation

Yesterday I predicted a breakout below the support line 1.1931 but instead of going below the line,EURUSD was rejected from it and is currently pulling back to the resistance zone 1.2235-1.2192,I expect price to rise up to the zone and a rejection of it form the zone for possible bearish momentum of price towards 1.1931 and a possible breakout below it for a further decline in price towards 1.1727.Right now you can remain flat and wait for either a correction to 1.2235-1.2192 or a breakout below 1.1931 to short EUR.Short term traders can opt to buy EUR now support line 1.1931 up to the zone 1.2235-1.2192.

Technical levels

Resistance levels

R1.1.2158

R2.1.2185

R3.1.2263

Pivot

1.2113

Support levels

S1.1.208

S2.1.2028

S3.1.195

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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