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23.07.202108:52 Forex Analysis & Reviews: Daily Video Analysis: EURAUD holding below descending trendline resistance! Drop incoming!

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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 holding below descending trendline resistance. A short term drop below our 1st resistance at 1.59728 towards 1st support at 1.58748 could be expected. Technical indicators are showing room for a further drop as well.

*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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