Forex: EUR/USD Technical Analysis – Channel Cuts Rally Short
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- Prices fell as expected after putting in Bearish Engulfing candle pattern;we’ve entered short
- Turning lower after a broken channel bottom retest eyes 1.3420 (38.2% Fib ret.)
- Break lower eyes 1.3293 (50% Fib); above the channel (1.3506) aims for 1.3577 (23.6% Fib)
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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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