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[B]BIAS[/B]: We should have seen the high but take care while the correction develops

[B]Resistance[/B]:... 0.9698........ 0.9710-15... 0.9740-45... 0.9771
[B]Support[/B]:........ 0.9670-75... 0.9638........ 0.9620........ 0.9590-05

[B]MAIN ANALYSIS[/B]: It's not often we see a Wave v of 90% - but that's what we had and took the daily Wave -iii- to the 190% projection at 0.9771. However, that should be it and now we need consider the correction in Wave -iv-. I feel the 0.9710-30 area should be the maximum we see today but overall we need take care as this could be quite a complicated pullback. Before we can safely say we're moving lower the 0.9610-20 area needs to break. Until then we can still see a ...

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• The Brief Daily Forecaster.pdf (87.8 KB, 37 次查看)

USDCHF has formed a cycle top at 0.9769 on 4-hour chart. Key support is a the upward trend line from 0.9043 to 0.9367, as long as the trend line support holds, the fall from 0.9769 is treated as consolidation of the uptrend, and one more rise towards 1.0000 is still possible. On the downside, a clear break below the trend line could indicate that the uptrend has completed at 0.9769 already, then the following downward movement could bring price back to 0.9200 zone.



Forex Technical Analysis

Last week gold and silver started off the week the same way they have shifted during the last couple of weeks with little movement until Friday when both metals (mainly gold) spiked. The disappointing U.S employment figures were the obvious catalyst for this sharp gain for both metals on Friday. This news may have rekindled the speculation regarding the possibility of the Fed introducing another quantitative easing program. If there will be another QE program it could reheat the current stagnate bullion market and drive prices up again. I'm not sure the current economic situation warrants another QE program. The upcoming FOMC meeting at the end of June might affect the markets if the tone of the FOMC will change from the previous meetings. ...

Precious metals took a sharp turn on Friday and recorded their largest single day gain in a while. Gold rose by 3.7% - the last time the price of gold increased by such a rate was back in August 8th 2011 when the anxiety levels in the markets were high over the U.S. debt ceiling debate. The disappointing U.S employment figures were the obvious catalyst for this sharp gain on Friday. This news may have rekindled the speculation regarding the future involvement of the Fed in the markets and whether the current economic situation warrants another quantitative easing program. If there will be another QE program it could reheat the current stagnate bullion market and drive prices up again. But will the Fed use the current news on the U.S economy ...