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EURUSD testing both its resistance and support!

Euro / U.S. Dollar (FX:EURUSD)  
ICmarkets Broker Updated   
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD Bitcoin (Cryptocurrency) Forex forexsignals eurusdlong eurusdshort
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trendanalysis harmonicpatterns chartpattern eurusd eur usd bitcoin forex forexsignals eurusdlong eurusdshort
EURUSD is testing its descending resistance line and its support at 1.2358 (horizontal overlap support). If it surpasses both the descending resistance line and its 1st resistance at 1.2380 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance), it could potentially rise further to its 2nd or 3rd resistance at 1.2414 (61.8% Fibonacci extension, horizontal swing high resistance) and 1.2445 (horizontal swing high resistance). If however, it breaks past its 1st support, price could potentially fall to its 2nd support at 1.2295 (61.8% Fibonacci extension, horizontal overlap support).

RSI (89, 5, 3) shows a potential break out.
Comment:
EURUSD tested its resistance at 1.2380 but got held down by its descending support, pushing price down all the way to our 2nd support at 1.2295.
Comment:
Descending resistance*
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