Remain flat | 28 June 2018

Technical observation

On the chart above price is rallying between a resistance zone 111.21-111.02 and a support 109.03.Yesterday price rose towards the zone but could not reach it.I expect either a correction to the zone or a decline in price towards109.03 and a breakout below it followed by a correction to it for possible bearish momentum towards the support 107.34.My advice, remain flat and wait for either to short the pair. Long positions may only be recommended in case there’s a clear breakout above the resistance zone 111.21-111.02 with a big red candle and a correction to it c confirming bullish movement of price.

Technical levels

Resistance levels

R1.110.07

R2.110.4

R3.111.08

Pivot

109.76

Support levels

S1.109.39

S2.109.04

S3.108.35

Trade signal

Remain flat.

101% Double the volume