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Talking Points
- Prices rose as expected after showing a Doji candle, completing a Falling Wedge pattern
- Support is in the 0.9065-92 area (23.6% Fib, Wedge top); below that eyes the 0.90 figure
- Resistance is in the 0.9192-0.9218 region (trend line from Feb’12, 38.2% Fib retracement)
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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