Remain flat | 28 Junio 2018

28 Junio 2018, EUR/USD

Remain flat

Technical observation

Yesterday instead of rising, EUR/USD went down below the support line 1.1568 with a big red candle and is currently correcting to it. I expect a rejection of it from the line for possible bearish momentum towards the lower support 1.1340.Wait for the second retracement to 1.1568 before you short the pair just to ensure it is not a false a breakout. Right now my advice, remain flat and wait for a second correction to the line to short EUR with your ideal target at 1.1340 and stop loss slightly above 1.1568.As long as price remains below 1.1569,only short positions can be recommended on the chart above.

Technical levels

Resistance levels

R1.1.1734

R2.1.1766

R3.1.1852

Pivot

1.1685

Support levels

S1.1.1649

S2.1.1596

S3.1.1511

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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