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Remain flat temporarily.

Remain flat temporarily. | 03 April 2018

03 April 2018, EUR/USD

Remain flat temporarily.

Technical observation

EURUSD went up above a resistance zone (1.2243-1.2201),It then retraced to the zone four times before rising up. Currently price is correcting to the zone and I expect a rejection of it at the zone for bullish movements of price towards the key line 1.2555.I would advise you remain flat temporarily and wait for the correction to (1.2243-1.2201) to close then buy EUR.If price breaks above 1.2555,wait for a correction to it then continue long with EUR,and in case there’s a breakout below (1.2243-1.2201) with a big red candle, wait for a correction to it to confirm bearish movement of price before you sell EUR.

Technical levels

Resistance levels

R1.1.2388

R2.1.2466

R3.1.2587

Pivot

1.2344

Support levels

S1.1.2266

S2.1.2222

S3.1.2101

Trade signal

Remain flat temporarily and wait for a rejection at (1.2243-1.2201) to buy EUR.

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Imelda Maseno
Analyst of «FreshForex» company
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