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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/USD testing major support, prepare to buy

The price is seeing major support at 1.1691 (Fibonacci extension, horizontal swing low support) and we expect to see a bounce above this level towards 1.1795 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (55,5,3) is seeing nice support above 13% and also sees an intermediate ascending support line push price up.

Buy above 1.1691. Stop loss is at 1.1645. Take profit is at 1.1795.

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