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21.09.202109:43 Forex Analysis & Reviews: EURAUD holding above ascending trendline support! Further bounce incoming!

Exchange Rates 21.09.2021 analysis

EURAUD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, a further push up above our 1st support at 1.60894 towards our 1st resistance at 1.62657 could be possible.

Trading Recommendation

Entry: 1.60894

Reason for Entry:

50% Fibonacci retracement, Ascending trendline support

Take Profit: 1.62657

Reason for Take Profit:

61.8% Fibonacci retracement, 61.8% Fibonacci expansion

Stop Loss: 1.59777

Reason for Stop Loss:

Graphical swing low support

*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
© 2007-2021
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