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Talking Points

• Breaking neckline support at 0.8214 (38.2% Fib) points to a Head & Shoulders top

• Below 0.8113 (50% Fib) eyes 0.8011 (38.2% Fib); the H&S-implied target is at 0.7885

• Reversing back above 0.8214 sees resistance in the 0.8382-0.8435 area (Sep 18-19 highs)

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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