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29.01.202410:09 Forex Analysis & Reviews: Tips for trading EUR/USD

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EUR/USD bounced back to the breakout area after a strong upward momentum last week. This opened the chance for traders to buy the pair at low prices.

Exchange Rates 29.01.2024 analysis

Taking this into account, market players could consider long positions from the breakout area and set the stop loss at 1.08131. Take profit upon the breakdown of 1.09020.

Exchange Rates 29.01.2024 analysis

Growth may continue in the medium term.

The trading plan followed the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% 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.
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