FXCM Inc, Continues Lower

FXCM Inc.

are trading lower by $1.90 at $16.58 in Thursday's session. The violent rally in the issue peaked at $24.77 in Wednesday's session and weakened to end the day at $18.48. After a lower open, it rallied past Wednesday's close ($18.48), but only to $18.80 before resuming to it down move. So far, it has bounced off $16.32, but has not been able to reclaim the $17 handle. At this time, it struggling to clear Tuesday's low of $16.80. The issue is entering a dangerous area based on the daily charts. If the current low is breached, the next daily support level does not come in until Monday's low of $11.21.