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Talking Points
- Prices declined as expected after putting in a Bearish Engulfing candle pattern
- Support is at 0.8954 (38.2% Fib exp.); below that eyes 0.8901 (50% Fib exp.)
- Back above 0.9020 (23.6% Fib exp.) exposes 0.9127 (January 8 swing high)
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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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