EURUSD bounced off support, potential for further upside!

By | May 18, 2020
InstaForex
EURUSD bounced off support, potential for further upside!

Relevance up to 20:00 2020-05-18 UTC–5

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Trading Recommendation

Entry: 1.07758

Reason for Entry: Horizontal swing low support, 78.6% fibonacci retracement and 61.8% fibonacci extension

Take Profit :1.08923

Reason for Take Profit: horizontal overlap resistance, 50% fibonacci retracement

Stop Loss: 1.07374

Reason for Stop loss: Horizontal swing low support

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

Performed by Dean Leo,
Analytical expert
InstaForex Group © 2007-2020

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AUDUSD further rise towards descending trendline resistance expected!

AUDUSD reacted above recent graphical swing low. With price now above moving average and stochastics reacting above support, we can expect a push up above 1st support at 0.64248 towards 1st resistance at 0.64734. 1st resistance also falls at a key level.

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