The Daily Forecaster

[B]BIAS[/B]: Risk is now for the uptrend to resume above 0.9791 for 0.9870

[B]Resistance[/B]:... 0.9772... 0.9791... 0.9805... 0.9823-36
[B]Support[/B]:........ 0.9741... 0.9720... 0.9695... 0.9673

[B]MAIN ANALYSIS[/B]: rice drifted lower and to 4 points below the lower 0.9745 retracement support advised yesterday. From there we appear to have seen the foundation for the next part of the rally that should now break above 0.9791 and to the 0.9836 projection for a correction of around 30 points before extending higher to the 0.9870 area. This should cap for a modest correction lower before it can resume the next leg higher.

[B]COUNTER ANALYSIS[/B]: Only a break below 0.9720 would risk losses ...

Attached Files

• The Brief Daily Forecaster.pdf (86.0 KB, 76 次查看)

[B]BIAS[/B]: There appears to be more risk of a minor new high before reversing lower…

[B]Resistance[/B]:... 96.79... 97.33... 97.75... 98.38
[B]Support[/B]:........ 96.41... 96.04... 95.64... 95.10

[B]MAIN ANALYSIS[/B]: Friday's pullback lower wasn't as deep as expected, stalling at 95.64 and then rallying to a new high at 97.33. The key support for any reversal is at 95.64 and while this holds I feel there is more risk of gains extending above 97.33 to 97.75 at least. Also note the 98.38 retracement resistance. I feel that as price edges to new highs we should be looking for bearish trade set ups / bearish reversal patterns in the general 98.38 area.

[B]COUNTER ANALYSIS[/B]: Only ...

Attached Files

• The Brief Daily Forecaster.pdf (86.0 KB, 63 次查看)

[B]BIAS[/B]: Slightly mixed - perhaps more aligned to the downside today

[B]Resistance[/B]:... 1.5697... 1.5723-37... 1.5755... 1.5777
[B]Support[/B]:........ 1.5663... 1.5644........ 1.5619... 1.5591

[B]MAIN ANALYSIS[/B]: As with the other Europeans the key resistance here broke at 1.5566-82 and just shot higher to reach 1.5723. This is a bit more difficult to fit into a structure that's possible in EUR & CHF but if I have any preference then it's for a ragged decline down to the 1.5550-70 area. From here I could envisage a rally back to above yesterday's highs and indeed the 1.5777 high...

[B]COUNTER ANALYSIS[/B]: Any direct rally above 1.5737 and 1.5777 would risk direct extension ...

Attached Files

• The Brief Daily Forecaster.pdf (87.1 KB, 45 次查看)

[B]BIAS[/B]: Quite balanced but would prefer to see a deeper correction higher…

[B]Resistance[/B]:... 78.30... 78.46........ 78.64... 78.95-12
[B]Support[/B]:........ 78.10... 77.94-00... 77.80... 77.66

[B]MAIN ANALYSIS[/B]: Yesterday saw a long drift lower but without too much power and having reviewed the structure later in the day I feel that a move higher would be better to balance the structure. This will need a break above the 78.30 high to extend gains to around 78.64 for a minor correction before heading to the 78.95-12 area.. I expect this to cap and trigger losses back below 77.94.

[B]COUNTER ANALYSIS[/B]: Any earlier break below 77.90 would extend losses to the 77.66 low ...

Attached Files

• The Brief Daily Forecaster.pdf (86.1 KB, 67 次查看)