[B]Bias:[/B] Mixed - waiting for breaks but overall I feel we shall see range
This has become really quite tight and the near term may well be confined to a 1.6328-1.6421 range. If we are to see any stronger rally then we'll need a break above 1.6453. If seen then I suspect we'll make our way up to 1.6494 and 1.6519 at least. Beyond here is a little uncertain. The next resistance I can see is at 1.6563. To allow for any stronger move then we have the
1.6603 high followed by 1.6630-74.
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 along with a review of the new FX-forecaster Trader Package at 20pm.
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.