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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 support, potential bounce!

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EURUSD is approaching our first support at 1.1164 where we might be seeing a bounce above this level.

Entry: 1.1164

Why it's good : Horizontal overlap support, 100%, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

Stop Loss : 1.1114

Why it's good : horizontal overlap support, 61.8% fibonacci retracement, 100% Fibonacci extension

Take Profit : 1.1281

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

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