Remain flat temporarily. | 21 September 2018

21 September 2018, EUR/USD

Remain flat temporarily.

Technical observation

EUR/USD Is currently trading with an increasing bullish momentum. For several days now, this pair has been has been rallying upwards and is currently approaching a key resistance zone 1.1872-1.1849, unless a clear breakout is seen above this zone, I expect a surge a bounce from it to pick short positions within it with my ideal target at 1.1539, while if price should break above it, then I expect a surge towards 1.2131 or even higher to 1.2422.As it is on the daily chart above, it is good to remain flat temporarily and wait for a bounce within 1.1872-1.1849 to pick short positions or a clear breach above the zone to long EUR.

Technical levels

Resistance levels

R1.1.169

R2.1.1756

R3.1.1858

Pivot

1.1663

Support levels

S1.1.1588

S2.1.1554

S3.1.1452

Trade signal

Remain flat temporarily.

Do you know against which currencies EUR is the most profitable?

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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