Remain flat temporarily. | 17 Octubre 2018

17 Octubre 2018, EUR/USD

Remain flat temporarily.

Technical observation

EUR/USD is still rallying between the zone 1.1655-1.1646 and a support 1.1533,I expect either arise to the zone and a rejection within it for downwards momentum of price or a clear breakout below 1.1533 followed by a correction to it for possible bearish momentum towards 1.1441 or even lower to 1.1344.Im still neutral waiting for either of the above mentioned possibilities to trade this pair. Should there be a clear breach above 1.1655-1.1646 with s big green candle, wait for a correction to it confirming possible bullish momentum of EUR before you pick long positions towards the upper key line 1.1792 or even higher above the line.

Technical levels

Resistance levels

R1.1.155

R2.1.1552

R3.1.1556

Pivot

1.1550

Support levels

S1.1.1545

S2.1.1543

S3.1.1539

Trade signal

Remain flat temporarily.

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Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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