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    EUR/TRY: Fibonacci analysis on 03.11.2015

    A downward movement may continue.

    On the 4-hour chart, the price is trying to rebound from the level of 3.0870 and strengthen to 3.1557 (23.6% correction). This level may be reached in a couple of days at the crossover with the 23.6% arc the 38.2% fan line. If the price reverses and breaks down the level of 3.0870, a significant decline is likely to continue.

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