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[B]BIAS[/B]: While 1.3119-37 caps we should see losses to 1.2920-53 before reversing higher

[B]MAIN ANALYSIS[/B]: Yesterday saw the expected recovery and to the right sort of resistance area. It could still see one more rally into the 1.3119-37 area and if so it should provide a cap for losses to develop. From there or a direct break below 1.3060 we should see the next decline develop. Below 1.3060 still sees a big congestion area that could cause a correction so only below 1.3030 would open up the downside for the 1.3003 low and this area (just above or below) should provide a correction ahead of losses down to the 1.2974 low and I feel the stronger target is in the 1.2918-53 area. It is here where I see the risk of a reversal ...

Attached Files

• The Brief Daily Forecaster.pdf (88.4 KB, 37 次查看)

[B]BIAS[/B]: Look for a decline to 82.42 before the rally can resume

[B]Resistance[/B]: 83.56-62 83.94 84.17-32 84.52
[B]Support[/B]: 83.18 82.65-92 82.42 82.15-25

[B]MAIN ANALYSIS[/B]: Price did not follow-through higher on Friday and has seen a second dip to the 83.19 low. This is pointing us lower and I look for follow-through today, initially to the 82.65-92 projection area but then see a pullback higher but probably seeing the 83.18-19 lows act as a pivot resistance for losses down to 82.42. I am expecting this to support for a rally back higher that should revisit the 84.17 high. We then have two choices for the final high - at 84.32 or 84.52-83.

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

Attached Files

• The Brief Daily Forecaster.pdf (86.2 KB, 34 次查看)

[B]BIAS[/B]: This now requires care

[B]Resistance[/B]: 110.56... 110.92-18... 111.39... 111.60
[B]Support[/B]: 110.12... 109.63-87... 109.17... 108.55-65

[B]MAIN ANALYSIS[/B]: Yesterday's rally reached the 110.22-55 target area. Hourly momentum is high while 4-hour is sporting a juicy bearish divergence. We have also reached one key expansion area at 110.56. There are still higher ones at 110.92-18 and the 111.39-60 but I'm rather doubtful of them being reached - at least, at this point. There is pivot support at 110.12 and possible retracement support at 109.63-87 that should be observed. However, as long as USDJPY moves lower and probably EURUSD also, I feel the risk is lower. Next stop ...

Attached Files

• The Brief Daily Forecaster.pdf (88.2 KB, 63 次查看)

[B]BIAS[/B]: Cautiously I now look for this to rally again

[B]Resistance[/B]:... 82.76-95... 83.15........ 83.35-58... 83.96-17
[B]Support[/B]:........ 82.32....... 81.65-85... 81.46........ 81.25

[B]MAIN ANALYSIS[/B]: At long last, the losses I had been looking for but just a little more than I had expected. However, having looked at the hourly development I feel there was a slight misjudgment earlier in the rally from 80.58 and the change made the 82.32 low perfect. Thus, as long as 82.32 does not break we should now see the uptrend develop. The early stages should see the 81.76-95 area cause some minor corrections. However, once overcome and the 83.15 swing high is broken we should see acceleration ...

Attached Files

• The Brief Daily Forecaster.pdf (86.7 KB, 48 次查看)