The Daily Forecaster

[B]Bias: [/B] I expect the day to end lower but while 94.12 supports the initial
risk is for a test of the 94.90-95.20 resistance

Basically I feel that we should be on the lookout for a bearish reversal pattern right from the start today as price has done enough to satisfy the correction now. However,I will go with the favored view that we'll see the 94.90-95.20 resistance but this will provoke the expected reversal lower.
While this rally is possible the 94.12-18 support must hold. Thus from 94.90-95.20 or a direct breach of 94.12 look for losses to resume back through Friday's 93.41 low and onto 93.05, 92.42 and then to the 92.03 target. I expect a bounce there but do also note the 91.74 low.

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.