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Remain flat

Remain flat | 18 May 2018

18 May 2018, EUR/USD

Remain flat

Technical observation

On the daily chart above,EUR/USD yesterday rallied down towards a support line 1.1739 and I expect a breakout below followed by a correction to it for possible bearish momentum towards the support line 1.1518,in case price breaks below it ,I expect a further decline in price towards 1.1387.Right now I would advise you wait for either a correction to the resistance line 1.1993 or a breakout below 1.1518 followed by a correction to it to short EUR.On the chart above only short positions look ideal and can be recommended. Long positions may only be ideal in case of a clear breakout above 1.2235.

Technical levels

Resistance levels

R1.1.1976

R2.1.2011

R3.1.2088

Pivot

1.1939

Support levels

S1.1.1899

S2.1.1856

S3.1.1779

Trade signal

Remain fat.

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Imelda Maseno
Analyst of «FreshForex» company
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