Remain flat | 09 May 2017

09 May 2017, EUR/USD

Remain flat
Technical Observation
EUR is trading below it's daily pivot line 1.0946. Unless there's a clear bullish breach above this pivot line, a bearish move towards 1.0882 is expected. On the daily chart above, I expect a bearish rally towards my buy area marked by the powder-blue shading. In case of a breakout below this zone, I'll wait for a retracement to this zone to short EUR towards 1.0705. My advice, wait and buy within the buy area marked above.
Technical levels:
Resistance levels
R1: 1.0975

R2: 1.1026

R3: 1.1107

Pivot Point
1.0946
Support Levels
S1: 1.0784
S2: 1.0865
S3: 1.0894
Trade Signal
Remain flat and BUY around 1.0882-1.0859 towards 1.1141

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Imelda Maseno
Analyst of «FreshForex» company
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