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02.07.2021: Forex Analysis & Reviews: Daily Video Analysis: EURAUD facing bullish pressure, potential for further rise!

Today we take a look at EURAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it continues to hold above the moving average, and MACD is holding above 0 line. We could see a bounce at Buy Entry, in line with 38.2% Fibonacci retracement and ascending trendline support, towards Take Profit levels, in line with horizontal swing high resistance and -27.2% Fibonacci retracement.

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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