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Talking Points
- A Bearish Engulfing candlestick pattern warns of weakness ahead
- Near-term support is at 1.3518, the 23.6% Fibonacci retracement
- Break lower exposes 1.3438 (38.2% Fib); initial resistance at 1.3645(Oct 3 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
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