Forex: EUR/USD Technical Analysis – Former Support Retested
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- Prices declined as expected after putting in Bearish Engulfing candlestick pattern
- Breaking support at 1.3420 (38.2% Fib) exposes 1.3293 (50% Fib)
- Reversing back above 1.3420 eyes 1.3489 (channel bottom); we’ve entered short
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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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