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02.08.2019 09:57 AM
EUR/USD approaching resistance, potential reversal!

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Price approaching its resistance at 1.1119 where it could potentially drop to its support. Ichimoku cloud is also showing signs of bearish pressure.

Entry: 1.1119

Why it's good : 100% Fibonacci extension, 23.6% Fibonacci retracement, Horizontal pullback resistance

Stop Loss : 1.1180

Why it's good : 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance

Take Profit : 1.1029

Why it's good: horizontal swing low support

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Dean Leo,
Analytical expert of InstaForex
© 2007-2025
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