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Remain short

16 May 2018, EUR/USD

Remain short

Technical observation

Yesterday,EUR/USD went down as predicted and is still pretty much on a bearish move, I expect bearish momentum towards 1.1739 and a possible breakout below it for further decline in price .If you had sold EUR yesterday I would advise you remain in the trade towards the support line 1.1739 ,If you had not sold yet, wait for a breakout below 1.1739 then short EUR after the second retracement to it.You can still short the pair within the resistance zone 1.2235-1.2192 in case price is corrected to it and does not break above it.Long positions can only be recommended in case of a clear breakout above 1.2235-1.2192.

Technical levels

Resistance levels

R1.1.1976

R2.1.2011

R3.1.2088

Pivot

1.1935

Support levels

S1.1.1899

S2.1.1856

S3.1.1779

Trade signal

Remain short

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Imelda Maseno
Analyst of «FreshForex» company
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