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Remain flat.

Remain flat. | 29 August 2018

29 August 2018, EUR/USD

Remain flat.

Technical observation

EUR/USD is still rallying towards the resistance zone 1.1872-1.1849,I expect a rejection of it within the zone for possible bearish movements of price. Remain flat and wait for the correction to 1.1872-1.1849 then short the pair on the daily chart above within it with your take profit at the key supportive line 1.1540 and stop loss slightly above 1.1872.In case there’s a clear breakout above 1.1872 with a big green candle, wait for a confirmation of possible bullish momentum before you enter long positions with your ideal target at the key resistance line 1.2131.Right now remain flat and wait.

Technical levels

Resistance levels

R1.1.1675

R2.1.1692

R3.1.178

Pivot

1.1606

Support levels

S1.1.1569

S2.1.1517

S3.1.1429

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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