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18.07.201814:06 Forex Analysis & Reviews: EUR/USD Approaching Support, Prepare For A Bounce!

Long-term review

EURUSD is approaching its support at 1.1635 (61.8% Fibonacci extension, 61.8% Fibonacci retracement x2, horizontal swing low support) where it could rise to its resistance at 1.1745 (76.4% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 2.7% where a corresponding bounce could occur.

EURUSD is approaching its support where a bounce is expected.

Buy above 1.1635. Stop loss 1.1567. Take profit at 1.1745.

Exchange Rates 18.07.2018 analysis

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

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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