Remain flat temporarily. | 26 Juni 2018

26 Juni 2018, EUR/USD

Remain flat temporarily.

Technical observation

The pair on the daily chart above has been rising steadily towards the resistance zone 1.1830-1.1802 which had previously been used as a retracement thrice. I expect a rejection of it within the zone for possible bearish momentum towards the support 1.1568 and a breakout below it for a further decline in price towards 1.1340.I would advise you remain flat temporarily and wait for the correction to 1.1830-1.1802 then short the pair within the zone with your ideal target at 1.1568 and stop loss slightly above 1.1830.Long positions may only be recommended in case if a clear breakout above 1.1830 and a correction to it.

Technical levels

Resistance levels

R1.1.1734

R2.1.1766

R3.1.1852

Pivot

1.1681

Support levels

S1.1.1649

S2.1.1596

S3.1.1511

Trade signal

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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