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Remain flat

Remain flat | 31 August 2018

31 August 2018, EUR/USD

Remain flat

Technical observation

EUR/USD has started pulling back to the support 1.1540, I expect a rejection of it at the line for possible bullish momentum towards 1.1849 and a possible breach above it with a big green candle for a further rise in price. In case there’s no rejection at 1.1540 but a breach below it, wait for a correction to it to confirm downwards movement of price before you enter short positions towards the key supportive line 1.1341.You can still also short the pair on the daily chart above within the resistance zone 1.1872-1.1849 if there’s a rejection of price within it.Remain flat now and wait for the pullback to 1.1540.

Technical levels

Resistance levels

R1.1.1675

R2.1.1692

R3.1.178

Pivot

1.1610

Support levels

S1.1.1569

S2.1.1517

S3.1.1429

Trade signal

Remain flat.

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Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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