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Talking Points
- Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
- Support is now at 0.9409 (38.2% Fib); breaking below that targets 0.9302 (50% Fib)
- Above 0.9498-542 (channel bottom, Sep top, 23.6% Fib) exposes the 0.9600 Figure
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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