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Talking Points
- Prices fell as expected after showing a Bearish Engulfing candle pattern
- Below support at 0.8727 (38.2% Fib exp.) exposes 0.8616 (50% Fib exp.)
- Near-term resistance is in the 0.8847-64 area (Aug’13 low, 23.6% Fib)
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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