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We're flat

We're flat | 18 March 2019

18 March 2019, EUR/USD

Technical observation

EUR is still rallying between the zone 1.1551-1.1520 and a support 1.1216, my expectation is either a rise to the resistance zone followed by a bounce within it for downwards movements of price or, a decline to 1.1216 followed by a breakout and a correction to it for bearish momentum towards the key line 1.0822.Remain flat and wait for either a correction to 1.1551-1.1520 and a rejection within it to sell EUR with your take profit at 1.1216 and stop loss at 1.1654, or a clear breakout below 1.1216 to sell. However should price penetrate above 1.1551-1.1520 wait for a correction to it before you buy EUR with your take profit at 1.1848.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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