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Talking Points
- Prices are edging higher after forming a Bullish Engulfing candle pattern
- Moving above 104.93 (23.6% Fib exp.) exposes 105.54 (channel bottom)
- Reversing below 104.14 (14.6% Fib exp.) targets 102.85 (Jan 13 low)
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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