The Daily Forecaster

[B]BIAS[/B]: I suspect a blip higher before a correction

[B]Resistance[/B]:... 0.9678... 0.9704-20... 0.9742........ 0.9768
[B]Support[/B]:........ 0.9637... 0.9619........ 0.9584-90... 0.9543-50

[B]MAIN ANALYSIS[/B]: While yesterday provided some early confusion this finally confirmed its intentions to move higher. There seems to be early risk of consolidation between 0.9645-70, the upper end of this small range being hit first followed by a pullback, before the upside extends to 0.9704 minimum and possibly 0.9720. From here we should expect a correction that should move back lower into the broad consolidation and I suspect the 0.9635-55 area should hold to trigger the next larger rally to 0.9768 but ...

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[B]BIAS[/B]: I'd prefer a pullback higher but see the main risk as lower…

[B]Resistance[/B]:... 99.45... 99.93... 100.18-43... 100.78
[B]Support[/B]:........ 98.74... 98.24... 97.59.......... 97.03

[B]MAIN ANALYSIS[/B]: While we saw some minor gains these came to a halt at 99.88 and price then proceeded to dip to 98.74. This development is causing me to feel that we're on the brink of some stronger losses. There is a minor risk that we could see a slight deepening of the correction to 99.85-100.20 (max 100.43) but either from there - or a break below 98.75 - I sense a growing bearish pressure that should extend down through 98.24 and 97.59 to the 97.03 low at least. Take care around here as it could ...

Attached Files

• The Brief Daily Forecaster.pdf (86.7 KB, 43 次查看)

[B]BIAS[/B]: We should be expecting a pullback higher today…

[B]Resistance[/B]:... 1.5596-10... 1.5634... 1.5655-60... 1.5674
[B]Support[/B]:........ 1.5557-62... 1.5524... 1.5498........ 1.5452

[B]MAIN ANALYSIS[/B]: Friday's pullback was a bit deeper than expected, clipping above 1.5610-20 to 1.5634 and it was from there that we saw the move down to 1.5556 but instead of edging lower it stalled and price remains above Friday's low. Whether it can make one more dip is a bit uncertain. While 1.5696-10 caps there is a chance and then we'd have to allow for the 1.5524-30 area (max 1.5498) before the correction higher develops. Directly above 1.5610 would see a recovery to the 1.5634-60 area. I feel this ...

Attached Files

• The Brief Daily Forecaster.pdf (88.8 KB, 52 次查看)

[B]BIAS[/B]: While 1.0060-70 caps there is room for losses to around 1.0000 before correcting higher

[B]Resistance[/B]:... 1.0060-70... 1.0094........ 1.0118... 1.0137-45
[B]Support[/B]:........ 1.0028........ 0.9999-10... 0.9966... 0.9925-30

[B]MAIN ANALYSIS[/B]: The break below the 1.0132 low certainly did the trick with solid losses through to 1.0028 this morning. This should see the 1.0060-70 area cap and provoke another leg lower to around 1.0000 from where I anticipate a correction higher. Only below 0.9990 would maintain the decline to 0.9966 at least. Take care there also. This needs to break to maintain losses for 0.9925-30 and 0.9902...

[B]COUNTER ANALYSIS[/B]: A break above ...

Attached Files

• The Brief Daily Forecaster.pdf (85.5 KB, 42 次查看)