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Talking Points
- A Bearish Engulfing candle pattern hints at a turn lower in the works
- Clearing support at 172.17 (14.6% Fib exp.) exposes 170.53 (23.6% Fib)
- Near-term resistance is at 174.83 (January 2 swing high)
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
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