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30.09.2020 04:36 PM
EURUSD is facing bearish pressure, potential for drop!

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Price is facing bearish pressure from our first resistance, in line with our 100% fibonacci extension, 50%, 78.6% fibonacci retracement, and horizontal graphical resistance where we could see a potential reversal under this level to our support level. The Stochastics is also showing signs of bearish pressure from the resistance level of 84.31.

Trading Recommendation

Entry: 1.17378

Reason for Entry:

100% fibonacci extension resistance, 50%, 78.6% fibonacci retracement and horizontal graphical resistance level.

Take Profit: 1.16449

Reason for Take Profit:

38.6%, 76.4% fibonacci retracement.

Stop Loss: 1.17848

Reason for Stop Loss:

127% fibonacci Extension, 61.8% fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
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