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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 approaching resistance, potential for big drop!

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Price is approaching resistance where we might see a corresponding drop in price to our first support level.

Entry : 1.1248

Why it's good : horizontal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.1281

Why it's good : horizontal pullback resistance, 76.4% Fibonacci retracement

Take Profit : 1.1169

Why it's good : horizontal swing low support, 61.8% Fibonacci extension

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