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16.10.202013:54 Evening review on October 16, 2020

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 16.10.2020 analysis

The downward breakdown of the EURUSD pair turned out to be false.

You may buy the euro from 1.1720.

It is possible to buy in case of a breakdown from 1.1760 with a stop at 1.1715.

There is no major news, but volatility may increase at 12:30 UTC.

The upward trend may continue with a potential target of up to 1.2450.

Performed by Sam Alan
Analytical expert of InstaForex
© 2007-2020

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