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Remain flat

Remain flat | 27 June 2018

27 June 2018, EUR/USD

Technical observation

Yesterday EUR/USD went down instead of rising but is currently showing signs of moving up towards the resistance zone 1.1830-1.1802.I expect a pull back to the zone followed by a rejection of price within it for possible bearish momentum towards the support 1.1568 and breakout below it for a further decline in price towards 1.1340.I would advise you remain flat now and wait for the correction to 1.1830-1.1802 then short the pair within the zone with your ideal target at 1.1568 and stop loss slightly above 1.1830.In case of a breakout below 1.1568,continue short with the pair after a correction to it.

Technical levels

Resistance levels

R1.1.1734

R2.1.1766

R3.1.1852

Pivot

1.1683

Support levels

S1.1.1649

S2.1.1596

S3.1.1511

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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