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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 drop!

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EURUSD is approaching our first resistance at 1.1281 where we might be seeing a drop below this level.

Entry: 1.1281

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

Stop Loss : 1.1325

Why it's good : horizontal swing high resistance, 76.4% fibonacci retracement

Take Profit : 1.1166

Why it's good: Horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

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