[B]Bias: [/B] This has me a little confused too but overall I remain bullish.
I suggested that we should see extension into the 1.0061-88 area for a correction and this worked well - mostly. The small problem I have is slotting in the structure which doesn't seem quite right. However, if there is any pullback I can't see losses moving below the 0.9980-00 pivot support and will look for the upside to re-emerge from there or on an earlier break above yesterday's 1.0064 high. We do still need to be careful at 1.0088 and 1.0114 which could provide resistance if the rally is direct. However, any push from a deeper correction would more likely break above 1.0114 and provoke follow-through to the 1.0180-87 area. Take care there as a correction is possible. Also note resistance at 1.0222 and 1.0286...
Only a break directly below 0.9980 would concern for deeper losses back to the 0.9893-00 pivot support. If that breaks then risk is for a much deeper correction.
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. (+0 pips)
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