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Wait for a correction to 1.1830-1.1802

Wait for a correction to 1.1830-1.1802 | 29 June 2018

29 June 2018, EUR/USD

Technical observation

The pair on the daily chart above could not breach below a support line 1.1537 and is currently pulling back to the resistance zone 1.1830-1.1802,I expect a rejection of it within the zone for possible bearish momentum towards 1.1537 followed by a breakout below it for a further decline in price towards 1.1340.I would advise you wait for a correction to the zone then short the pair within it with your take profit at 1.1537 and stop loss slightly above 1.1830.In case of a breach below 1.1537,wait for a correction to it then continue short with the pair towards the support 1.1340.Only short positions can be recommended.

Technical levels

Resistance levels

R1.1.1734

R2.1.1766

R3.1.1852

Pivot

1.1687

Support levels

S1.1.1649

S2.1.1596

S3.1.1511

Trade signal

Wait for a correction to 1.1830-1.1802 to short EUR/USD with your take profit at 1.1537 and stop loss slightly above 1.1830.

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Imelda Maseno
Analyst of «FreshForex» company
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