Remain flat | 20 Maret 2018

20 Maret 2018, EUR/USD

Remain flat

Technical observation

On the daily chart above,EURUSD is rallying between a key zone (1.2215-1.2183) and a key resistance line 1.2503,I expect either a rise in price towards 1.2503 and a breakout above it followed by a further rise in price towards the weekly resistance line 1.2778 or a correction to (1.2215-1.2183) and a rejection of price within or around it.I would advise you remain flat now and wait for a breakout above 1.2503 or a correction to (1.2215-1.2183) to buy EUR.In case of a clear breakout below (1.2215-1.2183),wait for a correction to it to confirm the price is on a downward movement before you short EUR towards the line 1.1953.

Technical levels

Resistance levels

R1.1.2377

R2.1.2419

R3.1.252

Pivot

1.2317

Support levels

S1.1.2275

S2.1.2216

S3.1.2114

Trade signal

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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