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Remain flat temporarily.

Remain flat temporarily. | 27 September 2018

27 September 2018, EUR/USD

Technical observation

On the daily chart above, EUR/USD is currently rallying on an increasing bullish momentum below the resistance zone 1.1822-1.1800, I expect either a rejection price within the zone for possible bearish momentum towards 1.1344, or a clear breakout above the zone with a big green candle for possible bullish momentum towards 1.2183 or even higher. My advice, remain flat temporarily and wait for the rejection within 1.1822-1.1800 or a breakout above it to trade the pair on the daily chart above. In case of a rejection within the zone short the pair within it with your take profit at the support 1.1344 and stop loss around 1.1911.

Technical levels

Resistance levels

R1.1.1791

R2.1.1832

R3.1.1903

Pivot

1.1766

Support levels

S1.1.172

S2.1.1691

S3.1.1621

Trade signal

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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