[B]Bias: [/B] A correction is due but should be capped by the 1.0119-30 area.
Losses declined nicely to the low end of the 1.0050-74 support and this implies a correction. The top of this should be in the 1.0119-30 area and trigger losses once again and back to the 1.0053-70 area again. Here we have to take care as this could just see a recycling of the correction higher again... If there is any loss of 1.0053 then watch the 1.0029 support. If this holds it could still force a recycling back to 1.0119-30...
Only a break above 1.0140 would concern for a possible retest of the 1.0200 high - and then note 1.0256. Below 1.0029 would extend losses directly to the next support at 0.9962.
Please view the complete analysis in the attached PDF file. For a full description of how to use the analysis please see the Analysis page of my website.
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