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Wait for a correction to 1.1853-1.1824

Wait for a correction to 1.1853-1.1824 | 03 October 2018

03 October 2018, EUR/USD

Technical observation

The pair on the daily chart above rallied up to the support 1.1539 but could not penetrate below it, it was rejected and is currently moving on an increasing bullish bias towards the resistance zone 1.1853-1.1824, I expect price to ascend up to the zone and bounce within it for possible bearish momentum towards 1.1539.I picked my profits at 1.1539 and I am currently waiting for the correction to 1.1853-1.1824to re-sell EUR. Should there be a breach below 1.1539, wait for a correction to it confirming further bearish momentum of price before you continue short with the pair. Right now you wait.

Technical levels

Resistance levels

R1.1.1647

R2.1.169

R3.1.1772

Pivot

1.1612

Support levels

S1.1.1565

S2.1.1526

S3.1.1444

Trade signal

Wait for a correction to 1.1853-1.1824 to re-sell EUR/USD.

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Imelda Maseno
Analyst of «FreshForex» company
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