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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 resistance, potential reversal!

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Price approaching its resistance at 1.1119 where it could potentially drop to its support. Ichimoku cloud is also showing signs of bearish pressure.

Entry: 1.1119

Why it's good : 100% Fibonacci extension, 23.6% Fibonacci retracement, Horizontal pullback resistance

Stop Loss : 1.1180

Why it's good : 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance

Take Profit : 1.1029

Why it's good: horizontal swing low support

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