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Remain flat temporarily.

Remain flat temporarily. | 10 July 2018

10 July 2018, EUR/USD

Remain flat temporarily.

Technical observation

On the daily chart above, EUR/USD is trading on a downward trend. Price broke below a support zone 1.1841-1.1802 with a big red candle, it then retraced to it thrice before rallying down. Currently it is correcting to the zone for the fourth time and I expect a rejection of it within the zone for possible bearish momentum towards the support 1.1539, and a possible breach below 1.1539 for a further decline in price towards 1.1321.Right now, remain flat temporarily and wait for the price at 1.1841-1.1802 then short EUR within it with your ideal target at 1.1539 and stop loss slightly above 1.1841.

Technical levels

Resistance levels

R1.1.168

R2.1.17

R3.1.1747

Pivot

1.1653

Support levels

S1.1.1633

S2.1.1606

S3.1.156

Trade signal

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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