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Flat

Flat | 18 July 2019

18 July 2019, EUR/USD

Flat

Technical observation

On the daily chart above price is trading between a resistance zone 1.1425-1.1400 and a supportive level 1.1128 on an increasing bullish bias. I expect either a rise to the above mentioned zone followed by a bounce within it for downwards movements towards 1.1128, or a decline to 1.1128 followed by a clear breakout below it and a retracement to it for bearish movements of price towards the line 1.0818. In case EUR rises to 1.1425-1.1400, wait for a bounce within it before you sell it with your take profit at 1.1128 and stop loss at 1.1543, and in case of a breach below 1.1128 wait for a correction to it before you sell EUR.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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