To receive Ilya’s analysis directly via email, please SIGN UP HERE
Talking Points
- Prices are carving out a Rising Wedge chart patter, hinting at a reversal lower in the works
- A break of minor rising trend line support (134.80) exposes 133.10 (23.6% Fib, Wedge bottom)
- Near-term resistance is in the 135.50-82 area (Oct 22 high, Wedge top)
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