Remain flat | 19 September 2018

19 September 2018, EUR/USD

Technical observation

EUR/USD is still rallying between the resistance zone 1.1872-1.1849 and the support 1.1539,I’m expecting either a rise to 1.1872-1.1849 and a rejection within it for bearish momentum of price, or a decline to 1.1539 and a rejection at it for bullish movement of price. In case of a rally to 1.1872-1.1849 and a rejection within it, pick short position with your ideal target at 1.1539 and in case there’s a breakout above 1.1872-1.1849 with a big green candle, wait for a correction to it confirming bullish movements of EUR before you pick long positions towards the line 1.2131.Right now remain flat and wait.

Technical levels

Resistance levels

R1.1.169

R2.1.1756

R3.1.1858

Pivot

1.1659

Support levels

S1.1.1588

S2.1.1554

S3.1.1452

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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