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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/AUD Trading Recommendations for 14th July 2016

EUR/AUD has reached a good buying area at 1.4520, where we expect a strong bounce up to 1.4700. We can see that the MACD has crossed above its descending resistance-turned-support line and displays a bullish divergence vs the price, signalling a good bounce from here. 1.4700 is our major resistance we're playing because of it being a fractal resistance level (graphical overlap + fibonacci retracement + fibonacci projection).

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Trading Recommendations:

Buy now and above 1.4520

Stop loss at 1.4370

Take profit at 1.4700

The material has been provided by InstaForex Company - www.instaforex.com