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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 approaching strong support, prepare to buy

Price has been dropping strongly from last week. We look to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support, Fibonacci extension area) for a push up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance).Stochastic (55,3,1) is seeing strong support above 1.8% and has good upside potential.

Buy above 1.1712. Stop loss at 1.1633. Take profit at 1.1811.

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