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Remain short

Remain short | 13 June 2018

13 June 2018, EUR/USD

Remain short

Technical observation

EUR/USD has been trading below a key resistance zone 1.1830-1.1794 and is still below it.Price has tested this resistance zone several times and has not been able to penetrate above it.As long as price is below this zone, I expect a bearish price rally towards the support 1.1534 and a breakout below it for a further bearish momentum towards 1.1343.Recently price corrected to the zone and was rejected and is currently rallying towards 1.1534,if you sold tit within the zone yesterday, remain in the trade with your ideal target at 1.1534,if you had not sold it yet, remain flat and wait for the next retracement to the zone to short EUR.

Technical levels

Resistance levels

R1.1.1811

R2.1.1853

R3.1.1937

Pivot

1.1771

Support levels

S1.1.1727

S2.1.1685

S3.1.1601

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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