[B]MAIN ANALYSIS[/B]: The limited correction and the review of the weekly report has turned my thoughts to a major recycling lower that permits deeper losses. For today I feel we are close to an intermediate low that should stall around the 0.9718-43 area for a correction higher. This pullback should reach 0.9805-15 minimum and possibly 0.9845. From this area I shall be looking for further losses. In case this develops more directly than expected then note the deeper 0.9663 daily low - although I feel it may just dip below...
[B]COUNTER ANALYSIS[/B]: Only back above 0.9845-66 will provide any relief from the downside. Then keep in mind the 0.9890-95 and yesterday's 0.9934 high.
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
