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Remain flat

Remain flat | 27 March 2018

27 March 2018, EUR/USD

Remain flat

Technical observation

EURUSD retraced at a key support zone (1.2243-1.2201) four times while the price was moving up, Recently on 22nd of March this year price corrected to the zone but could not reach it and was rejected around it.Currently price is on a bullish move and I expect either a correction to (1.2243-1.2201) and a rejection of price within or around the zone or a breakout above the key line 1.2555 followed by a rise in price. Right now I would advise you remain flat and wait for either to buy the pair. In case of a breakout below (1.2243-1.2201) with a big red candle, wait for a pull back to the broken zone before you short EUR.

Technical levels

Resistance levels

R1.1.2379

R2.1.2405

R3.1.2463

Pivot

1.2348

Support levels

S1.1.2322

S2.1.2291

S3.1.2233

Trade signal

Remain flat and wait for either a breakout above 1.2555 or a correction to (1.2243-1.2201) to buy EUR.

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Imelda Maseno
Analyst of «FreshForex» company
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