Remain flat | 17 July 2018

17 July 2018, EUR/USD

Remain flat

Technical observation

On the chart above,EUR is pulling back to the resistance zone 1.1823-1.1803.I expect a rejection of it within the zone for bearish movement of price towards the support 1.1520 and a possible breach below it for a further decline in price towards 1.1339.Right now you can remain flat temporarily and wait for the correction to 1.1823-1.1803 then short the pair within the zone with your take profit at 1.1520 and stop loss slightly above 1.1823,if price goes below 1.1520,wait for a retracement to it then continue short with EUR towards 1.1339.On the chart above only short positions look idea and can be advised within 1.1823-1.1803.

Technical levels

Resistance levels

R1.1.1712

R2.1.1738

R3.1.1813

Pivot

1.1662

Support levels

S1.1.1637

S2.1.1587

S3.1.1512

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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