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Remain flat

Remain flat | 27 July 2018

27 July 2018, EUR/USD

Remain flat

Technical observation

Instead of rising and breaking above the resistance 1.1744, EUR/USD yesterday went down steadily to the supportive zone 1.1675-1.1667 and broke down below it with a big red candle before proceeding down. Currently it is correcting to the zone and I expect a possible rejection of it within the zone for possible bearish momentum towards the support 1.1585, you can wait for the second retracement to ensure the breakout is not false before you short the pair with your take profit at 1.1585 and stop loss slightly above 1.1675.Right now remain flat with EUR and wait for the correction to 1.1675-1.1667.

Technical levels

Resistance levels

R1.1.1749

R2.1.1754

R3.1.1767

Pivot

1.1748

Support levels

S1.1.1737

S2.1.1729

S3.1.1717

Trade signal

Remain flat

Do you know against which currencies EUR is the most profitable?

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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