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Talking Points
- Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
- A break of support at 0.9348 (23.6% Fib exp.) exposes 0.9094 (38.2% Fib exp.)
- Reversing back above 0.9348 targets 0.9564 (rising channel bottom from Sep)
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
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