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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/AUD Trading Recommendations for 19th July 2016

The price has bounced off our 1.4500 support brilliantly as expected. We now expect a further push up all the way towards 1.5200 which is a fractal resistance level (fibonacci retracement + horizontal resistance + MA resistance). 1.4370 is our stop loss which we're keeping really tight.

We can also see how the RSI displays a bullish divergence vs the price and has crossed above a descending resistance-turned-support line triggering a bullish move.

analytics578dc749134be.png

Trading Recommendations:

Buy now

Stop loss at 1.4370

Take profit at 1.5200

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