[B]Bias:[/B] While 1.0110 caps I look for losses to 1.0034-49 initially and later lower
Further losses have been seen and appear to point to additional losses. The 1.0110 corrective high should hold for now and allow losses to extend to the 1.0034-49 area. Expect a correction from here back to the 1.0090-10 area. While this resistance caps the risk will remain lower for a retest of the
1.0034-49 (anticipated) lows and then follow-through to the 0.9970 area. Look for a correction higher from here.
Only a break back above 1.0110 would cloud the view again and suggest potential for a pullback higher and above 1.0134 to the 1.0170-01 area. Take care there. This will need to break to provide a stronger correction higher.
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 available on the Daily Forecast page of my web site in the Trader Package review. (+40 pips)
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