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Talking Points
- Prices put in a Bearish Engulfing candlestick pattern, hinting a move lower is ahead
- Breaking below support at 0.9020 (23.6% Fib exp.) targets 0.8954 (38.2% Fib exp.)
- Near-term resistance is at 0.9127 (January 8 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
Contact and follow Ilya on Twitter: @IlyaSpivak
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