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Talking Points
- Prices put in a Bullish Engulfing candle pattern, hinting at gains ahead
- Breaking above 104.93 (23.6% Fib exp., channel bottom) eyes 106.23 (38.2% Fib exp.)
- Near-term support is at 102.85, the January 13 swing low
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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