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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 support, potential bounce!

EURUSD is approaching our first support at 1.1174 (horizontal swing low support, 61.8% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level pushing price up to our major resistance at 1.1336 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ). Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

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