To receive Ilya’s analysis directly via email, please SIGN UP HERE
Talking Points
- Prices declined as expected, completing a Rising Wedge chart formation
- A cautious recovery has now begun from support at 0.8332, the Oct 1 low
- Initial resistance is at 0.8408 (38.2% Fib ret.); above that targets 0.8442 (50% 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
New to FX? START HERE
For live market updates, visit the Real Time News Feed