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Talking Points
- Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
- Break of resistance in the 0.9256-95 area (range top, 23.6% Fib) has exposed 0.9509 (38.2% Fib)
- We continue to holdlong from 0.9189 with an upside objective of 0.9640
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
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