[B]MAIN ANALYSIS[/B]: All looked possible for a while on Friday but the strong reversal from the 1.3157 level broke the structure and has seen a push through to 1.3252 so far and while 1.3225-00 area supports we should see a move into the 1.3285-00 area. This should cap for the drop I had expected on Friday. The initial drop should be back to around current areas (1.3235-45) and later extend losses.
[B]COUNTER ANALYSIS[/B]: Only a direct break above 1.3310-20 would suggest that Friday's low was a stunted final leg. If seen we should see further gains back towards the 1.3385 high but should hold on first test…
For more information concerning the support & resistance and medium term outlook please see the attached PDF file.
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