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Talking Points
- Prices are moving lower as expected after showing a Bearish Engulfing candle setup
- A close below 0.8847-64 (Aug’13 low, 23.6% Fib) exposes 0.8727 (38.2% Fib)
- Near-term resistance is at the 0.90 figure, followed by 0.9085 (January 13 high)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
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