Remain flat | 05 Juli 2018

05 Juli 2018, EUR/USD

Remain flat

Technical observation

EUR/USD is still rising steadily towards the resistance zone 1.1861-1.1830 and I expect a rejection of it within the zone for a possible bearish momentum towards the support 1.1511 and a possible breakout below 1.1511 for a further decline in price towards the lower support 1.1342.I would advise you remain flat right now and wait for the pull back to 1.1861-1.1830 and a rejection of price within it to short EUR with your take profit at 1.1511 and stop los slightly above 1.1861.In case of a clear breach above 1.1861,wait for a correction to it before you long the pair towards the resistance 1.2013 or even higher to 1.2235.

Technical levels

Resistance levels

R1.1.1734

R2.1.1766

R3.1.1851

Pivot

1.1685

Support levels

S1.1.1649

S2.1.1596

S3.1.1511

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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