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Talking Points
- Prices put in an Evening Star candlestick pattern, hinting a move lower is ahead
- Breaking below 1.6321 (23.6% Fib ret.) exposes 1.6231 (38.2% Fib, Flag top)
- Above 1.6448 (38.2% Fib exp.) negates topping setup, exposes 1.6520 (50% Fib exp.)
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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