Remain short | 09 October 2018

09 October 2018, EUR/USD

Remain short

Technical observation

EUR/USD is still below the resistance line 1.1539 rallying towards the support 1.1344,if you sold this pair yesterday at 1.1539, remain in the trade with your ideal target at 1.1344 and stop loss around 1.1619.I expect bearish momentum towards 1.1344 and a possible breach below it for a further decline in price. Should there be a breakout above 1.1539, wait for a rise to the key resistance zone 1.1853-1.1824 and a rejection within it to pick short positions. Long positions may only be recommended in case of a clear breach above 1.1853-1.1824 with a big green candle followed by a correction to it towards 1.2183.

Technical levels

Resistance levels

R1.1.1552

R2.1.1587

R3.1.1667

Pivot

1.1510

Support levels

S1.1.1472

S2.1.1428

S3.1.1348

Trade signal

Remain short.

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Remain short

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Imelda Maseno
Analyst of «FreshForex» company
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