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Talking Points
- Prices fell as expected after putting in Bearish Engulfing candle pattern;we’ve entered short
- Turning lower after a broken channel bottom retest eyes 1.3420 (38.2% Fib ret.)
- Break lower eyes 1.3293 (50% Fib); above the channel (1.3506) aims for 1.3577 (23.6% Fib)
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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