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Remain flat

11 October 2018, EUR/USD

Remain flat

Technical observation

EUR/USD broke is breaking above the resistance line 1.1539 after only one retracement to it this means that price could not be contained below the line so I still expect a pullback to the resistance zone and a bounce within it for possible bearish momentum towards the just broken line. In case of a correction to the just broken line and a rejection, short term traders may pick long positions at it towards 1.1819.Right now remain flat and wait for the correction to the key zone 1.1853-1.1819 to short EUR. In case of a clear breakout above 1.1853-1.1819 with a big green candle, wait for a correction to it to long EUR towards 1.2183.

Technical levels

Resistance levels

R1.1.1552

R2.1.1587

R3.1.1667

Pivot

1.1514

Support levels

S1.1.1472

S2.1.1428

S3.1.1348

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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