Remain flat temporarily. | 19 October 2018
19 October 2018, EUR/USD
Technical observation
The pair on the chart above rallied up to the support 1.1441 but could not penetrate below, price then went up by one candle and is currently moving down. I expect either a correction to the resistance 1.1533 or a clear breakout below 1.1441 followed by a correction to it for downwards movement of price towards 1.1344.In case of a clear breach below 1.1344 too, wait for a correction to it confirming further bearish momentum of price before you continue short with this pair. Right now, remain flat temporarily and wait for either a pullback to 1.1533 or a breach below 1.1441 and a correction to it to sell EUR/USD.
Technical levels
Resistance levels
R1.1.155
R2.1.1552
R3.1.1556
Pivot
1.1554
Support levels
S1.1.1545
S2.1.1543
S3.1.1539
Trade signal
Remain flat temporarily.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
