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Talking Points
- A Bullish Engulfing candle setup at 1.3468 (channel bottom, 50% Fib) hints at gains ahead
- Resistance is at 1.3553 (38.2% Fib); breaking above that targets 1.3660 (23.6% Fib)
- Breaking below support initially exposes 1.3382 (61.8% 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
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