FXCM

EUR/AUD H4 | Overlap resistance at 38.2% Fibonacci retracement

Short
FX:EURAUD   Euro / Australian Dollar
EUR/AUD has reacted off an overlap resistance and the bearish momentum could potentially cause it to drop lower.

Sell entry is at 1.6274 which is an overlap resistance that aligns with the 38.2% Fibonacci retracement level.

Stop loss is at 1.6346 which is a level that sits above the 61.8% Fibonacci retracement level and a pullback resistance.

Take profit is at 1.6176 which is a swing-low support.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Stratos Trading Pty. Limited (www.fxcm.com/au):
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Stratos Global LLC (www.fxcm.com/markets):
Losses can exceed deposits.

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