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09.07.2021 07:54 AM
EURUSD reacting below descending trendline resistance! Drop incoming!

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EURUSD reacting below descending trendline resistance. A further drop below 1st resistance at 1.18500 towards 1st support at 1.18152 could be possible. Stochastic is reacting below resistance as well where price pulled back lower in the past.

Trading Recommendation

Entry: 1.18500

Reason for Entry:

61.8% Fibonacci retracement, descending trendline resistance

Take Profit: 1.18152

Reason for Take Profit:

61.8% Fibonacci retracement

Stop Loss: 1.18679

Reason for Stop Loss:

Graphical swing high resistance

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
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