EURUSD holding above ascending trendline support! Push higher incoming!

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EURUSD holding above ascending trendline support, showing that the trend has changed. With technical indicators now showing room for further bullish momentum, A further push up above our 1st support at 1.18600 towards our 1st resistance at 1.18951 could be possible.

Trading Recommendation

Entry: 1.18600

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support

Take Profit: 1.18951

Reason for Take Profit:

-27.20% Fibonacci retracement, Graphical swing high resistance

Stop Loss: 1.18467

Reason for Stop Loss:

61.8% FIbonacci retracement

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

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