Remain flat | 06 June 2018

Technical observation

The pair on the daily chart above is on a upward movement with three retracements at a support zone 109.01-108.78.Currently price is between a resistance line 110.92 and the zone 109.01-108.78 .I expect either a rise to 110.92 and a breakout above it or a correction to 109.01-108.78 and a rejection of price within the zone for possible bullish momentum towards 110.92,I would advise you remain flat and wait for either a correction to 109.01-108.78 then long the pair within it ,or a breakout above 110.92 followed by a correction to it to buy the pair. Short positions can only be recommended below 109.01-108.78.

Technical levels

Resistance levels

R1.109.83

R2.110.14

R3.110.84

Pivot

109.45

Support levels

S1.109.12

S2.108.72

S3.108.02

Trade signal

Remain flat.

101% Double the volume