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Long EUR around 1.0841 towards 1.1139

Long EUR around 1.0841 towards 1.1139 | 28 April 2017

28 April 2017, EUR/USD

Long EUR around 1.0841 towards 1.1139
Technical Observation:
Recently, EUR entered into an expanding wedge and is currently bouncing off from the the wedge's diagonal trend line. I expect a possible bounce from this trendline to long EUR towards 1.0914. That said, if this pair can breakout below this trend line, I expect a bounce from the support line 1.0841 to re-buy EUR towards 1.0918. I will only reconsider sell positions in case of a clean breakout below 1.0841 and then a retest. My advice, buy along this trend line or around 1.0841-1.0837, your SL is either cases should be below the recent lowest low 1.0816.
Technical levels:
Resistance levels
R1: 1.0919
R2: 1.0967
R3: 1.1048
Pivot Point
1.0885
Support Levels
S1: 1.0722
S2: 1.0803
S3: 1.0837
Trade Signal
Long EUR around 1.0841 towards 1.1139

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Imelda Maseno
Analyst of «FreshForex» company
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