Flat | 02 May 2017

02 May 2017, EUR/USD

Flat
Technical Observation:
For the past three trading days, EUR has been trading sideways, contained within the levels 1.0841-1.0949. On the 4 hour chart, there's a possible triangular formation in progress, however, instead of going long/ short, i choose to remain flat and only long EUR upon retracing towards the lower trend line or upon a clear breakout and then retracement to the just broken resistance zone 1.0907-1.0929. My advice, remain flat and only buy above 1.0929 or upon a clear rejection from the lower trend line.
Technical levels:
Resistance levels
R1: 1.0914
R2: 1.0917
R3: 1.0924
Pivot Point
1.091
Support Levels
S1: 1.0895
S2: 1.0902
S3: 1.0907
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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