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Remain flat

Remain flat | 01 April 2019

01 April 2019, EUR/USD

Remain flat

Technical observation

On the hourly chart above price is retracing towards a resistance line 1.1251 and I expect a rejection at it for bearish price rally towards 1.1178 and a possible breakout below it for a further decline in price. Right now you can remain flat and wait for the rise to 1.1215 and a bounce at it to sell EUR with your take profit at 1.1178 and stop loss at 1.1271. Should there be a clear break below 1.1178, continue short after a correction to the just broken line. The general trend for the pair on the chart above is downwards making only short positions recommendable. Upward momentum may only be anticipated in case of a clear breach above 1.1251.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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