[B]BIAS[/B]: I feel a lot of today could be sideways consolidation

[B]Resistance[/B]:... 1.0459-72... 1.0485... 1.0502... 1.0523
[B]Support[/B]:........ 1.0418-34... 1.0405... 1.0388... 1.0367

[B]MAIN ANALYSIS[/B]: The early correction did stall close to 1.0422 - just 2 points below - and saw a seesaw day up to 1 point below the lower 1.0460 target. I think there's a chance that we may even see 1.0472 but otherwise we'll be due a correction lower again to the 1.0418-34 retracement zone. From here we should then see a rally above 1.0472 and to above 1.0500 - the estimated target around 1.0523-52. From here expect a correction lower.

[B]COUNTER ANALYSIS:[/B] Only a break below 1.0400 would concern and risk losses back to Thursday's 1.0362 low and potentially further noting the 1.0342 low.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: While 95.62-72 supports we should see extension to 96.30-45 before a correction lower

[B]Resistance[/B]:... 96.12... 96.30-45... 96.60-76... 97.02
[B]Support[/B]:........ 95.81... 95.62-72... 95.30-37... 95.19

[B]MAIN ANALYSIS[/B]: Price rallied strongly and very directly. I see support around the 95.62-72 area that should provide a final move higher in this section of the rally to the 96.30-45 area. From there I feel we may well see a deeper correction that would ideally reach the 95.37-72 area again. (Keep in mind the 95.19 pivot support if it is very deep.) Once the correctioon is complete we should see another strong rally.

[B]COUNTER ANALYSIS[/B]: Only a break above 96.45 would extend the rally to the 96.60-76 projection for a modest correction of around 35-40 points approx before higher again.

Only a break below 95.10 would concern and risk losses back to the 94.72-82 lows.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: We should now see losses to 1.2840 and 1.2803

[B]Resistance[/B]:... 1.2967... 1.2985... 1.2995-00... 1.3030
[B]Support[/B]:........ 1.2923... 1.2911... 1.2881........ 1.2864

[B]MAIN ANALYSIS[/B]: Yesterday was always going to be a cautious one. The downside did see a marginal new low but then a correction that stalled at the 4-hour Price Equilibrium Cloud. We have two options here - the first being that we saw a completed wave at 1.2881 and the second that the low was only part of the decline. I tend to feel the latter is more likely. This would imply that we should see losses back down to the 1.2864-81 area en route the 1.2840 projection. From there expect somewhere around 40 points in a correction before extending to the 1.2803 area. From here expect as much as 100 points in a correction.

[B]COUNTER ANALYSIS[/B]: A direct break back above 1.3000-10 would risk further gains to the 1.3045-50 pivot resistance. Above there is Friday's 1.3106 high.

For more information concerning the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: I feel there is a risk of a move straight back to 0.9566-83 before recycling lower

[B]Resistance[/B]:... 0.9476-86... 0.9508-15... 0.9535........ 0.9566
[B]Support[/B]:........ 0.9448........ 0.9430........ 0.9399-09... 0.9373

[B]MAIN ANALYSIS[/B]: The upside failed to reach even the 0.9574 target, stalling at 0.9566 but which is actually still within a valid projection area. The drop to 0.9450 should have completed the first leg of a broad sideways consolidation. Note the 0.9430-48 support. However, I feel that this morning's 0.9450 may well have satisfied the first leg and thus I expect a choppy rally with immediate resistance at 0.9508-15 and then higher at yesterday's 0.9566 high but allow for the 0.9583-93 area (max 0.9606) before a recycling lower that should reach the 0.9399-0.9448 area.

[B]COUNTER ANALYSIS[/B]: Only a direct break above 0.9615 would see gains extend to 0.9635 and more likely the 0.9655 projection.

Only a direct break below 0.94485 would see losses back to 0.9429-35 and possibly 0.9393-09. This should support and provoke a reversal higher. Also then note the 0.9370-75 and 0.9351 minor supports.

For more information regarding the support & resistance and medium term analysis please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: While 1.0345 caps we should see a pullback to 1.0284-05 before higher again

[B]Resistance[/B]:... 1.0345........ 1.0367-74... 1.0391... 1.0402-17
[B]Support[/B]:........ 1.0284-05... 1.0266........ 1.0237... 1.0218

[B]MAIN ANALYSIS[/B]: Price extended a little more to 1.0312 before a pullback to 1.0266 and from there approached the 1.0334-45 area. Still allow for 1.0345. From this resistance area I look for a correction back to 1.0305 and possibly 1.0284. This should support for a rally back to 1.0345 and possibly the 1.0367-74 highs. After a correction the 1.0391-17 area looks like a probable target.

[B]COUNTER ANALYSIS[/B]: Only a break below 1.0280 followed by a break below the 1.0266 low would concern and risk a retest of the 1.0199 low. Below there note the deeper retracement levels at 1.0159-77.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: While 1.4958-87 caps we should see losses to 1.4837 before reversing higher

[B]Resistance[/B]:... 1.4935-40... 1.4958... 1.4974-87... 1.5005-15
[B]Support[/B]:........ 1.4905........ 1.4884... 1.4861........ 1.4837

[B]MAIN ANALYSIS[/B]: After a slow start we saw a more aggressive follow-through lower to 1.4884. At this point we are seeing a correction. Take care here as the pullback has been enough. We should allow for between 1.4958-87. From there - or directly lower - we should see losses that extend back to (around) the 1.4884 low followed by a pullback and then extension to the long standing 1.4837 target. This should hold and provoke a reversal higher.

[B]COUNTER ANALYSIS[/B]: Only an earlier break above 1.4995-1.5015 would confuse and suggest a move back to the 1.5047 and 1.5082 areas.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: While 1.5023-41 caps this looks like we shall see losses below 1.4948 to 1.4837…

[B]Resistance[/B]:... 1.5023-41... 1.5062... 1.5095-05... 1.5130
[B]Support[/B]:........ 1.4965........ 1.4948... 1.4924........ 1.4888

[B]MAIN ANALYSIS[/B]: Well, we saw losses but with momentum bearish it has slipped below the 1.4985 low and thus seems to imply we are on our way to 1.4837 after all. Note the 1.4948 projection. While this supports we should see a correction back to the 1.5000-40 area (the higher if direct from 1.4965 or the lower area from 1.4948) for losses to then resume through 1.4948 and to 1.2877-88 and to the 1.4837-56 area. I'd look for this to provoke a much deeper correction higher.

[B]COUNTER ANALYSIS[/B]: Only an earlier break above 1.5065 would lift this back higher and through minor resistance at 1.5095-05 and to the 1.5130-54 area.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]INTRADAY CHART[/B]
[ATTACH=CONFIG]186715[/ATTACH]

[B]5th March[/B]:

The pullback in Wave -b- was deeper than expected - at the 66.7% retracement at 1,619.95 from where we have seen the start of Wave -c- lower. On the assumption that the 1,587.16 high was Wave b then we should see Wave c drop to the 261.8% projection at 1,530.40 being a 150% projection in Wave c. This should generate around a 45%-50% pullback in Wave iv to 1,560-66 and for losses in Wave v to reach the 238.2% projection in Waev -iii- at 1,516.42. From there we should see a deep retracement that, given Wave -ii- was 23.6% should be as much as 58.6% and implying a retracement target around 1590-96.

From there look for losses in Wave -v- to complete Wave (a) that I feel will reach the 1,450-00 area.

[B]RATIO TABLE[/B]
[ATTACH=CONFIG]186716[/ATTACH]

Good trading
Ian Copsey

[B]BIAS[/B]: While 92.40-50 supports we should see further progress to 92.96-12 initially and later 93.37

[B]Resistance[/B]:... 92.84........ 92.96-12.... 93.37... 93.53-66
[B]Support[/B]:........ 92.45-49.... 92.20........ 92.00... 91.79

[B]MAIN ANALYSIS[/B]: Price rallied though just a little above expectations and was followed by a correction. It looks as if it is complete but allow for 92.40-50. From here we should now see upward progress to 92.96-12 - I suspect the higher projection for a correction of around 35 points (maybe bouncing from the 92.76-80 area) and then rally back to 93.12 and later to 93.37. From this high a correction of around 20-25 points is then required before heading higher to the 94.10-40 area. A deeper correction should then develop.

[B]COUNTER ANALYSIS[/B]: Only a break below 92.35-40 would see this move back through 92.20 to the 92.00 corrective low at least - potentially 91.79 in a recycling. Also note the 91.55-60 area…

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]INTRADAY CHART[/B]
[ATTACH=CONFIG]185047[/ATTACH]

[B]26th February[/B]:

The more direct rally has required an adjustment but one that seems to fit nicely into the larger daily wave structure. We do seem close to the Wave iii high that should stall between the 361.8%-423.6% projection at 82.03-29. I favour the lower 82.03 target. This should trigger at least a 50% retracement, may be a touch more , to hold above 81.20-29 for gains to the 176.4% projection in Wave (iii) at 82.64. That seems the most likely but keep in mind the higher 198.4% projection at 82.99.

From the 82.64-99 high the pullback in Wave (iv) should be around 41.4%-50% suggesting around 81.24-48 (from 82.03) before extending higher in Wave (v) to form the larger (blue) Wave -a-.

[B]RATIO TABLE[/B]
[ATTACH=CONFIG]185048[/ATTACH]

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: While 1.0300-20 caps we should see losses to 1.0221-48

[B]Resistance[/B]:... 1.0302... 1.0315-20... 1.0340........ 1.0360-74
[B]Support[/B]:........ 1.0280... 1.0265........ 1.0235-48... 1.0221

[B]MAIN ANALYSIS[/B]: Price fell short of the 1.0367-74 highs - the high being at 1.0340 from where we have seen a break below the 1.0296 low. This looks more bearish. It could still just be a correction but the implication is for losses to reach 1.0235-48 and we can't rule out the 1.0221 low. While the downside is possible the 1.0315-20 gap high should cap.

Only below 1.0221 would imply losses although at this stage there isn't much to owrk on in terms of downside targets. However, I feel such a break would be quite bearish.

[B]COUNTER ANALYSIS[/B]: Only a break back above 1.0320 would retest the 1.0340 high and equally, above there would imply a retest of the 1.0367-74 highs. Take care in case we see a correction. Only above would risk extension to 1.0415 at least.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

As a change I am providing a video forecast for EURUSD that provides a visual look to how things should develop in EURUSD over today and an alternative should this break down.

[B]Resistance[/B]:... 1.3194-08... 1.3231... 1.3254-62... 1.3282-01
[B]Support[/B]:....... 1.3160........ 1.3136... 1.3109........ 1.3091

[video=youtube;zsqOs0_XAiY]http://www.youtube.com/watch?v=zsqOs0_XAiY[/video]

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]BIAS[/B]: The downside has a greater chance of developing now…

[B]Resistance[/B]:... 0.9231........ 0.9248-57... 0.9280........ 0.9308-18
[B]Support[/B]:........ 0.9209-14... 0.9195........ 0.9165-73... 0.9149

[B]MAIN ANALYSIS[/B]: If this has any chance of extending losses, then now is the time… A break below yesterday's 0.9214 low should be enough to see this extend to the 0.9166-73 area for a correction of around 25 points to then trigger losses to the 0.9149 swing low. I suspect this will hold but check as price approaches. The next potential projection and support is at 0.9115. I feel the correction will not be overly deep from 0.9149 (or 0.9115) and remain below 0.9185-0.9215. From there look for another leg lower but this one should be deeper to the 0.9074 projection for another shallow correction. Below note the 0.9021 low and the 0.8984 projection.

[B]COUNTER ANALYSIS[/B]: Any earlier break above 0.9231 would not necessarily break the downward structure but imply a deeper correction that needs to remain below 0.9248. Thus, only above 0.9248 would have to be handled with more care and above 0.9257 would risk extension to 0.9308-18 and if this turns aggressive then the 0.9369-99 area.

For more information regarding the support & resistance and medium term outlook please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]

[B]INTRADAY CHART[/B]
[ATTACH=CONFIG]183448[/ATTACH]

[B]19th February[/B]:

The decline has developed a little deeper than expectedand wihtin Wave iii I feel we should now see this at the 298.4% projection at 29.46. With Wave ii around 76.4% we should see Wave iv stall by the 23.6% retracement (around 30.03) for losses in Wave v that should reach the 50% projection at 28.72 at least.

Only an earlier break above the pivot resistance at 30.75-85 would cause some concern...

[B]RATIO TABLE[/B]
[ATTACH=CONFIG]183449[/ATTACH]

Good trading
Ian Copsey

[B]BIAS[/B]: Cautiously while 125.19 supports we should see gains to around 127.46-70

[B]Resistance[/B]:... 125.89... 126.22... 126.55........ 126.93
[B]Support[/B]:........ 125.19... 124.76... 124.25-59... 124.00

[B]MAIN ANALYSIS[/B]: Yesterday's gains were limited to 126.55 following which we have seen a correction down to 125.18-20. Ideally this should hold and trigger gains above 125.89 and then 126.22 towards the 126.55 high. Overall this should reach the 126.93 area at least and I suspect the 127.46-70 area between the highs. I'd expect a correction from here back to the 126.55-85 area. Then begin to look for potential for the uptrend to resume. Probably not today, but I suspect this next rally would then reach the 128.36-75 area for another correction.

[B]COUNTER ANALYSIS[/B]: Any earlier break below 125.18 and then 124.76 would risk losses back to 124.25-59 at least. Take care here. Below will risk a move back to the 123.42 low.

For more information regarding the support & resistance and medium term analysis please see the attached PDF file.

Good trading
Ian Copsey

[B][URL="http://harmonicelliottwave.blogspot.jp"]HARMONIC ELLIOTT WAVE BLOG[/URL][/B]