Buy above 1.1518. Stop loss at 1.1416. Take profit at 1.1661. Reason for the trading strategy (technically): EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 2.8% where a corresponding bounce could occur.
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