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Long EUR now

Long EUR now | 11 June 2018

11 June 2018, EUR/USD

Long EUR now

Technical observation

After breaking above a resistance zone 1.1725-1.1654,EUR retraced to it four times as a support .Recently after pulling back to the zone, price was rejected within the it then went up, this week’s candle is bullish and so I expect rise in price towards the resistance line 1.2463,if you bought this pair last week I would advise you remain in the trade with your ideal target at 1.2463.If you had not bought it yet you can still long the pair now with your take profit at 1.2463 and stop loss around 1.1401,I expect a rally in price this weeks and the weeks to come towards 1.2463.Short positions may only be recommended below 1.1654.

Technical levels

Resistance levels

R1.1.1855

R2.1.1942

R3.1.213

Pivot

1.1754

Support levels

S1.1.1667

S2.1.1566

S3.1.1373

Trade signal

Long EUR/USD now with your take profit at 1.2463 and stop loss around 1.1401.

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Imelda Maseno
Analyst of «FreshForex» company
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