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AlgoVenture

EURUSD Long - Broke Falling Trendline, Retracement towards 618

Euro / U.S. Dollar (FX:EURUSD)  
AlgoVenture Updated   
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis EURUSD euro eurusdshort fallingtrendline trendreversal 618 Fibonacci Retracement
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trendanalysis eurusd euro eurusdshort fallingtrendline trendreversal 618fibonacciretracement
EURUSD has halted a falling trend amid breaking above a 2-week falling trendline.
Awaiting price to retrace to supply zone 1.1370 @ FR618 level.
Comment:
As price has successfully closed below the supply zone around 1.137 in the daily chart, it poses a possibility for further depreciation towards the initial SL level at 1.134 as shown on the chart, and the price is most likely to rebound only as it reaches 1.134.

Let's wait for a clear sign of reversal at 1.134 and if were to long, stop loss should be set below 1.30.
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