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Remain flat

Remain flat | 26 February 2019

26 February 2019, EUR/USD

Remain flat

Technical observation

EUR is pulling itself to the upper side but is still within the resistance zone 1.1551-1.1520 and a support 1.1216.I expect a rise to 1.1551-1.1520 followed by either a bounce at it for bearish price rally towards 1.1216, or a clear penetration above it and a correction to it for upward momentum of price.While price is contained below 1.1551-1.1520,I belive EUR is still within the sellers reach.Should price fail to retrace to 1.1551-1.1520 but instead decline to 1.1216 and penetrates below it,wait for a correction to it to confirm bearish price rally before you sell EUR with your take profit at 1.0822 and stop loss at 1.1328.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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