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    EUR/TRY: Fibonacci analysis on 22.01.2016

    A fall continuation is likely.

    On the 4-hour chart, the pair tested the level of 3.2615 (38.2% correction), near its crossover with the 50% fan line that acts as an additional support to the price. Its breakdown would allow the price to fall to 3.2385 (50% correction), at its crossover with the 38.2% arc and 61.8% fan line, and to 3.2160 (61.8% correction). A price rebound from the level of 3.2615 could lead to a growth towards 3.2896 (23.6% correction) and 3.3000.


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