The Daily Forecaster

[B]BIAS[/B]: Look for a pullback from 0.9718-43

[B]Resistance[/B]:... 0.9783... 0.9805-15... 0.9832........ 0.9845
[B]Support[/B]:........ 0.9757... 0.9743........ 0.9718-27... 0.9683-95

[B]MAIN ANALYSIS[/B]: The limited correction and the review of the weekly report has turned my thoughts to a major recycling lower that permits deeper losses. For today I feel we are close to an intermediate low that should stall around the 0.9718-43 area for a correction higher. This pullback should reach 0.9805-15 minimum and possibly 0.9845. From this area I shall be looking for further losses. In case this develops more directly than expected then note the deeper 0.9663 daily low - although I feel it may just dip ...

Attached Files

• The Brief Daily Forecaster.pdf (86.5 KB, 65 次查看)

[B][SIZE="2"]DAILY STRUCTURE[/SIZE][/B]

[IMG]http://i1079.photobucket.com/albums/w514/HarmonicElliottWave/FXS1-1.jpg[/IMG]

[B]15th May:[/B]

This has finally cleared support and is on its way lower in Wave -a- which seems to have a target potentially in the 24.50-25.50 area. Once seen the risk is for a pullback higher in Wave -b- and then lower to around the 20-22 area where I feel we shall see a weekly corrective low and for the upside to develop more strongly.

[B][SIZE="2"]INTRADAY STRUCTURE[/SIZE][/B]

[IMG]http://i1079.photobucket.com/albums/w514/HarmonicElliottWave/FXS2-1.jpg[/IMG]

[B]22nd May:[/B]

We have seen losses to the Wave iii ...

Attached Files

• The Brief FX & Metals Weekly Harmonic Analyst.pdf (358.6 KB, 45 次查看)

[B]BIAS[/B]: I feel this can see a deeper pullback but not convinced we have seen the final low

[B]Resistance[/B]:... 1.5838........ 1.5862-69... 1.5890... 1.5910-30
[B]Support[/B]:........ 1.5772-85... 1.5757........ 1.5732... 1.5708-17

[B]MAIN ANALYSIS[/B]: The drop below 1.5770 saw extension below 1.5747 to 1.5732. However, the manner of the decline suggests we have not yet seen the final low. In the meantime this really needs a deeper correction before it can extend back down to a more appropriate target. Thus today should see the correction higher extend above 1.5838 and to the 1.5860-90 area (allow for the 1.58910-30 congestion area) and from here the downside can resume back down to the 1.5732 ...

Attached Files

• The Brief Daily Forecaster.pdf (85.7 KB, 57 次查看)

[B]BIAS[/B]: As long as 80.05-12 continues to support this can move towards 80.89 before a correction

[B]Resistance[/B]:... 80.55........ 80.89... 81.15-20... 81.40
[B]Support[/B]:........ 80.12-17... 79.93... 79.68........ 79.43

[B]MAIN ANALYSIS[/B]: Gains seen to just under 80.57 and while the 80.12-17 srea continues to support we should now see the upside extend to 80.89 from where we should then expected a pullback to around 80.48. From this corrective low it should then set up the next leg higher through 80.89 and to the 81.40-45 area. The 81.40-78 area provides resistance and should trigger a correction lower. Only above 81.78 would see further upside.

[B]COUNTER ANALYSIS[/B]: ...

Attached Files

• The Brief Daily Forecaster.pdf (86.3 KB, 46 次查看)