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We're flat

We're flat | 30 August 2018

30 August 2018, EUR/USD

We're flat

Technical observation

EUR/USD is still trading between the resistance zone 1.1872-1.1849 and a support 1.1540.I expect either a correction to the zone or a pullback to 1.1540.If price rises to 1.1872-1.1849 and gets rejected within it, short the pair within the zone with your take profit at 1.1540 and stop loss slightly above 1.1872,and in case there’s no rise to the zone but a pullback to 1.1540,you can long EUR at it with your ideal target at 1.1849 and your stop loss slightly below 1.1540.Right now you can remain flat and wait for either to trade EUR.In case of a clear breach above 1.1872,wait for a correction to it before you long EUR.

Technical levels

Resistance levels

R1.1.1675

R2.1.1692

R3.1.178

Pivot

1.1608

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?

We're flat

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Imelda Maseno
Analyst of «FreshForex» company
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