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Remain flat

Remain flat | 04 January 2019

04 January 2019, EUR/USD

Remain flat

Technical observation

EUR did not decline to 1.1214 as I predicted yesterday but instead it rose and is still rising towards the resistance zone 1.1472-1.1452, my expectation is a rejection of it within the zone followed by possible bearish price rally towards 1.1214, or a clear penetration above the zone with a big green candle and a retracement to it for possible bullish momentum of price towards 1.1819.If you are not in a trade yet, remain neutral and wait for a close within 1.1472-1.1452 to sell this pair with your take profit at 1.1214 and stop loss at 1.1582.Long positions may only be recommended above 1.1472-1.1452 after a confirmation of possible upwards movement.

Trade recommendation

Remain neutral

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Imelda Maseno
Analyst of «FreshForex» company
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