[B]Bias: [/B] There seems to be room for losses to 0.9484-08 at least.
The 0.9603-14 area gave way and triggered losses. This opens up a few alternatives but I'm not sure this means a resumption of the larger downtrend yet. For the moment I feel there is still downside risk for losses to move down through 0.9534 and into the 0.9484-08 area. Take care here as this could form a base if a larger sideways range is going to develop.
Breach would extend losses to the 0.9445 low at least... Then note 0.9367-87 and 0.9333.
To get this back on a positive move higher we'll need a break above 0.9615-33. If this occurs directly then a move back to the 0.9712-20 peaks is possible. If this occurs after the 0.9484-08 area is tested then a lower peak is due.
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.
[B][CENTER][URL="http://www.harmonic-ewave.com/Services.html"]HARMONIC ELLIOTT WAVE FORECASTS NOW AVAILABLE FOR U.S. INDICES[/URL][/CENTER][/B]
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Go to Profile
Mark as Read
