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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 testing key resistance, potential reversal!

Price is facing bearish pressure from our first resistance where we can expect a drop below this level to our first support level. Stochastic is approaching resistance as well.

Entry : 1.1190

Why it's good : horizontal pullback resistance, 23.6%, 38.2% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.1225

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

Take Profit : 1.1124

Why it's good : horizontal swing low support

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