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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 reacting at ascending trendline support! Bounce incoming!

analytics60a36fb7cd09e.jpg

EURUSD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, a further push up above 1st support at 1.21589 towards 1st resistance at 1.21817 could be possible.

Trading Recommendation

Entry: 1.21589

Reason for Entry:

50% Fibonacci retracement, 61.8% Fibonacci extension, ascending trendline support

Take Profit: 1.21817

Reason for Take Profit:

Horizontal swing high resistance

Stop Loss: 1.21346

Reason for Stop Loss:

Horizontal swing low support

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