EUR/USD approaching resistance, potential reversal!

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EURUSD is approaching our first resistance where we expect a drop below this level to our first support level.

Entry: 1.1276

Why it's good : horizontal overlap resistance, 38.2% Fibonacci retracement

Stop Loss : 1.1311

Why it's good : 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance

Take Profit : 1.1243

Why it's good: 100% Fibonacci extension, 50% Fibonacci retracement, Horizontal overlap support

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