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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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EURUSD is approaching support, potential bounce!

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Price is testing our first support, in line with our graphical pullback support and 23.6% fibonacci retracement, where we could see a bounce above this level. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.

Trading Recommendation

Entry: 1.21574

Reason for Entry:

graphical pullback support and 23.6% fibonacci retracement

Take Profit: 1.22159

Reason for Take Profit:

127.2% fibonacci extension, horizontal swing high resistance

Stop Loss: 1.21373

Reason for Stop Loss:

38.2% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support

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