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Remain flat

Remain flat | 08 April 2019

08 April 2019, EUR/USD

Remain flat

Technical observation

On the chart above price is retracing to a resistance zone 1.1528-1.1457 and I expect a rejection of it within the zone for a surge to the lower side towards the level 1.0444, you can remain flat for now and wait for the correction to the above mentioned zone and a rejection within it to sell EUR with your take profit at 1.0444 and stop loss at 1.1739, in case of a clear breakout above 1.1528-1.1457, wait for a correction to and a rejection within it confirming possible bullish price rally before you pick long positions. Right now as long as EUR is contained below the zone 1.1528-1.1457, only short positions can be recommended.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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