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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 facing bearish pressure from resistance, potential for drop!

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EURUSD is facing bearish pressure from our first resistance where we could be seeing a further drop below this level.

Entry: 1.10559

Why it's good : horizontal pullback resistance, 50%, 38.2% fibonacci retracement

Stop Loss : 1.10811

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

Take Profit : 1.09317

Why it's good: Horizontal swing low support

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