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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 profit target reached, remain bullish

Price has surpassed our descending resistance-turn-support line triggering a bullish move from here. EUR/USD made a push up to our profit target before reversing back to our buying level. We remain bullish above 1.0418 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.0510 once again (Fibonacci retracement, horizontal overlap support).

RSI (34) has made a bullish exit signalling a change in the momentum.

Buy above 1.0418. Set stop loss at 1.0347 and take profit at 1.0510.

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