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Talking Points
- Prices turned higher as expected after putting in a Bullish Engulfing candle pattern
- Breaking above 10727 (Dec 20 high) exposes 10761 (38.2% Fib exp., channel top)
- Reversing below 10707 (23.6% Fib exp.) targets 10635 (channel bottom)
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Daily Chart – Created Using FXCM Marketscope 2.0
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
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