The Daily Forecaster

[B]BIAS[/B]: The 0.9457 target is close and we should either see this directly or via 0.9367-77

[B]Resistance[/B]:... 0.9440........ 0.9457-65... 0.9476... 0.9505
[B]Support[/B]:........ 0.9405-10... 0.9367-77... 0.9355... 0.9315-26

[B]MAIN ANALYSIS[/B]: The 0.9828-40 support held perfectly and has provoked the gains I had expected and to just short of the 0.9457 target. As in EUR, if I have any preference then it's for a deep pullback to the 0.9367-77 area before resuming the rally to the 0.9457 target. However, I'd not fight a direct move to 0.9457 (and even 0.9476.) Either way I do see this projection area as a cap for a deeper pullback lower and back to the 0.9315-26 area at least and max ...

Attached Files

• The Brief Daily Forecaster.pdf (86.9 KB, 50 次查看)

[B]BIAS[/B]: While 1.2857-76 caps there is still risk of losses to 1.2685

[B]Resistance[/B]:... 1.2857........ 1.2876........ 1.2895-05... 1.2923
[B]Support[/B]:........ 1.2815-25... 1.2795-05... 1.2776........ 1.2757

[B]MAIN ANALYSIS[/B]: Loss of 1.2860-66 provoked the follow-through to the 1.2814-27 area. We're seeing a correction that should remain below 1.2857-76 if there are to be further losses. While this caps we should see a return to this morning's 1.2815 low and later through 1.2776 - take care at 1.2757 - but keep in mind the next target at 1.2685. If seen this should provoke a correction of around 200 points. Also keep in mind the 1.2623 daily low.

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

Attached Files

• The Brief Daily Forecaster.pdf (87.4 KB, 42 次查看)

[B]BIAS[/B]: Uncertainty remains… wait for breaks

[B]Resistance[/B]:... 1.0035... 1.0057-77... 1.0095-15... 1.0143
[B]Support[/B]:........ 1.0006... 0.9992........ 0.9974........ 0.9930-40

[B]MAIN ANALYSIS[/B]: We have seen a break below the 1.0021 low, not by too much but there could still be risk of losses extending to the 0.9974-92 area. Momentum conditions are not strongly bearish at this stage so we should look at this area as a potential base for a recycling higher. However, I cannot rule out a direct recycling higher from current levels but we'll need a break above 1.0057-77 to confirm. Thus, either from 0.9974-92 or directly above 1.0080 would see further gains through 1.0095-15 and 1.0143 ...

Attached Files

• The Brief Daily Forecaster.pdf (87.7 KB, 44 次查看)

[B]BIAS[/B]: Slightly mixed - watch EURUSD for clues

[B]Resistance[/B]:... 103.77-88... 104.34... 104.60... 105.20-50
[B]Support[/B]:........ 102.75-95... 102.44... 102.06... 101.70

[B]MAIN ANALYSIS[/B]: Price did make it higher to the 103.60-80 area but the structure has provided a potential base for a stronger recovery. It will be useful to ensure that EURUSD breaks higher - and even if USDJPY also break above 80.10… The combination of both of these could well boost this cross for a move above 103.77-88 to reach the 104.60 pivot resistance. A pullback is then possible but I suspect then a break above for 105.20-30 en route 105.87 where a correction is implied. If this pattern of development occurs ...

Attached Files

• The Brief Daily Forecaster.pdf (87.6 KB, 42 次查看)