[B]BIAS[/B]: It looks like we'll see 76.35-42 again before lower
[B]MAIN ANALYSIS[/B]: A drift lower yesterday but stalling above the 76.02 low and from there a modestly firmer move higher that looks pretty much as if we'll see price recycle to the 76.35-42 area again. From there the next move lower to 75.55-76 should develop.
[B]COUNTER ANALYSIS[/B]: Only a direct break above 76.42 would test the 76.64 pivot resistance… However, only above the 76.77 high would trigger firmer gains with the 77.30 pivot resistance likely to contain the move higher temporarily…
For more information regarding the support & resistance and medium term outlook please see the attached PDF file.
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
