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Remain flat

Remain flat | 28 March 2018

28 March 2018, EUR/USD

Technical observation

EURUSD retraced at a support zone (1.2243-1.2201)then rallied up to a key line 1.2555,currently price is rallying towards 1.2555 and I expect a breakout above it followed by a correction to it for bullish momentum towards 1.2778.I would advise you remain flat now and wait for the breakout above 1.2555 and a correction to it then buy EUR with your take profit at 1.2778 and stop loss around 1.2476.In case of a breakout above 1.2778,wait for a pull back to it then continue long with EUR.Short positions can only be advised in case of a clear breach of price below (1.2243-1.2201) with a big red candle.

Technical levels

Resistance levels

R1.1.2379

R2.1.2405

R3.1.2463

Pivot

1.2350

Support levels

S1.1.2322

S2.1.2291

S3.1.2233

Trade signal

Remain flat and wait for a breakout above 1.2555 and a correction to it to buy EUR.

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Imelda Maseno
Analyst of «FreshForex» company
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