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Remain flat

Remain flat | 11 October 2018

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.

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Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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