[B]Bias:[/B] I look for a dip to the 1.4189-01 support before a rally to
1.4301-27 and then back lower again
It looks like we'll get an initial repeat of yesterday with downward pressure expected to take price back to the 1.4189-02 support area. I feel this will hold and from there look for price to break higher and this time break through yesterday's 1.4273 high to extend into the 1.4301-27 range.
However, this should cap and cause a move back lower. Thus, any stronger bullish stance will require a break above 1.4330 and only if see would it extend gains through to 1.4359 at least and I suspect the 1.4406 resistance.
This should then cause a correction. Above there note the 1.4445 high
Please view the complete analysis in the attached PDF file.
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
