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08.01.202109:38 Forex Analysis & Reviews: Daily Video Analysis: EURAUD seeing bearish breakout, potential for further drop!

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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. EURAUD has just seen a bearish breakout of the ascending trendline, thus showing potential for a further drop. It could potentially reverse from our sell entry level, in line with our 61.8% Fibonacci retracement, and drop further to our take profit level in line with our -27.2% Fibonacci retracement and horizontal 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
InstaForex Group © 2007-2021
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