The Daily Forecaster

[B]BIAS[/B]: This could reverse lower at any time but allow for 0.9167-89

[B]Resistance[/B]:... 0.9142... 0.9157-67... 0.9189... 0.9210-22
[B]Support[/B]:........ 0.9124... 0.9095........ 0.9074... 0.9042-52

[B]MAIN ANALYSIS[/B]: My sudden thoughts of direct losses were blown away with the rally above 0.9099-15 that extended to just below 0.9167. It may have done enough to provoke a resumption of losses but we should just allow for 0.9167-89 which is the ideal stalling point. At this point we have support at 0.9095 and 0.9074 and until these break the additional move higher is possible. Thus, below 0.9070 would revisit the 0.9042 low and breach would confirm additional losses that should then break through 0.9001 and to the 0.8931-74 area.

[B]COUNTER ANALYSIS[/B]: Only a break above 0.9190-00 would concern for a retest of the 0.9251 high but then take care at 0.9270-90… This could be a cap for the larger consolidation to continue. Any break above would suggest a move to the 0.9330-60 area.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp/"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]