Remain flat temporarily. | 19 Oktober 2018

19 Oktober 2018, EUR/USD

Remain flat temporarily.

Technical observation

The pair on the chart above rallied up to the support 1.1441 but could not penetrate below, price then went up by one candle and is currently moving down. I expect either a correction to the resistance 1.1533 or a clear breakout below 1.1441 followed by a correction to it for downwards movement of price towards 1.1344.In case of a clear breach below 1.1344 too, wait for a correction to it confirming further bearish momentum of price before you continue short with this pair. Right now, remain flat temporarily and wait for either a pullback to 1.1533 or a breach below 1.1441 and a correction to it to sell EUR/USD.

Technical levels

Resistance levels

R1.1.155

R2.1.1552

R3.1.1556

Pivot

1.1554

Support levels

S1.1.1545

S2.1.1543

S3.1.1539

Trade signal

Remain flat temporarily.

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Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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