Remain flat | 08 Maret 2018

08 Maret 2018, EUR/USD

Remain flat

Technical observation

EURUSD retraced at a support zone, (1.2215-1.2184) while on an upward trend, price then rose up to a key resistance line 1.2555 but could not break above it and was corrected twice to the zone but got rejected. Right now it is rallying above the zone and I expect a correction to it to re buy EUR with my take profit at 1.2555 and stop loss around 1.2090.in case of a breakout above 1.2555, wait for a correction to it before you continue long.If there’s a clear breakout below 1.2184 with a big red candle, wait for retracement to it to confirm bearish movement of price before you enter short positions.

Technical levels

Resistance levels

R1.1.2367

R2.1.2398

R3.1.2479

Pivot

1.2318

Support levels

S1.1.2287

S2.1.238

S3.1.2157

Trade signal

Remain flat and wait for a pull back to (1.2215-1.2184)

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Imelda Maseno
Analyst of «FreshForex» company
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