Remain flat | 17 April 2018

17 April 2018, EUR/USD

Remain flat

Technical observation

On the daily chart above,EURUSD retraced at a key support zone 1.2243-1.2201 five times while on a upward trend. Currently price is rallying above the zone and I expect either a pull back to the zone or a rise in it towards the key line 1.2555 and a breakout above it.I would advise you remain flat and wait for either a correction to the zone and a rejection of price within or a round it, or wait for a breakout above 1.2555 followed by a correction to it to buy EUR.In case of a break out below (1.2243-1.2201),wait for a pullback to the broken zone and a rejection of price within it then sell EUR.

Technical levels

Resistance levels

R1.1.2369

R2.1.2406

R3.1.2485

Pivot

1.2334

Support levels

S1.1.2294

S2.1.2259

S3.1.214

Trade signal

Remain flat.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .