Remain flat | 16 Marzo 2018

16 Marzo 2018, EUR/USD

Technical observation

On the chart above,EURUSD is rallying above a key zone (1.2215-1.2183),I expect either a correction to the zone or a rise in price towards 1.2503 and a break out above it.I would advise you remain flat and wait for a breakout above 1.2503 or a retracement to (1.2215-1.2183) to buy EUR.In case there’s a clear breakout below the support zone (1.2215-1.2183),wait for a correction to it to confirm the price is on a downward movement before you enter short position towards the key line 1.1935.If 1.1935 gets broken below with a big red candle, I expect a further decline in price towards the lower key line 1.1586.

Technical levels

Resistance levels

R1.1.2357

R2.1.2379

R3.1.2435

Pivot

1.2330

Support levels

S1.1.2302

S2.1.2268

S3.1.2213

Trade signal

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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