[B]Bias: [/B]I suspect a direct pullback is due from the 1.4777 peak
The 1.4777 high has held and with the bearish divergence I feel we shall see a reasonable correction. First support is at 1.4630 and this should hold on first test. However, while the 1.4700-20 area caps look for a reversal back lower that should then penetrate 1.4630 and trigger losses back to 1.4550-60 and 1.4500 at least. Note next support around the 1.4420-50 area.
For full analysis please open today's full report in PDF format.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
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
