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EUR/USD facing bearish pressure, potential for further drop!

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Trading Recommendation

Entry: 1.12354

Reason for Entry: Horizontal swing high resistance, 23.6% fibonacci retracement and 100% fibonacci extension

Take Profit: 1.10263

Reason for Take Profit: 161.8% fibonacci extension, horizontal pullback support, 61.8% fibonacci retracement

Stop Loss: 1.12760

Reason for Take Profit: Horizontal swing high resistance, 38.2% fibonacci retracement

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