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EURUSD H4 | Falling to support level?
22:49 2023-10-31 UTC--5

EUR/USD displays bearish momentum with the potential for a bearish continuation towards the 1st support at 1.0526. This support level aligns with a swing low support, suggesting its strength as a potential support zone. Additionally, the 2nd support at 1.0485 is an overlap support and coincides with the 127.20% Fibonacci Extension, further reinforcing its significance as a potential support area. On the resistance side, the 1st resistance at 1.0584 is characterized as an overlap resistance, indicating a potential barrier to upward price movement. The 2nd resistance at 1.0646 is a swing high resistance, presenting another potential level of resistance for the price.


    






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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.