The Daily Forecaster

[B]Bias:[/B] It's not the clearest of pictures but while 90.10 supports we should see 90.93 at least and maybe 92.14.

Yesterday's follow-through higher was almost as expected but stopping slightly short of the 90.92 target. We still have to keep this level in mind but I feel we are running out of time to see the follow-through to 92.14. At the most I would not want to see any further than 90.10 in this correction else an alternative and more bearish structure will be implied. Therefore, watch this support and as long as it holds a move back above 90.60 & 90.93 could even trigger a rally as high as the 92.14 target (allow a little more) by the end of today.

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[B]Bias: [/B] Mixed - tend to look for the correction above 133.93 to extend

Losses were pretty solid and stalled just below the 134.00 support. I suspect this is probably enough for now and we could begin to see some rather messy consolidation but with a basically bullish undertone. I don't think we'll get a break below yesterday's 133.93 low and more probably see a bounce from between 133.93-134.50 which can then slowly move towards 135.55-65 and possibly as high as 135.93-20.

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 the support & resistance levels highlighted ...

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[B]Bias: [/B] I am bearish and look for losses with the only risk being a break above 0.9115 to reach 0.9169 before lower

The short term structure is a bit mixed but overall I remain with a bearish preference. Ideally I'd like to see the 0.9106-12 area cap and from there losses below this morning's 0.9073 low can then accelerate below the 0.9056 corrective low and probably through 0.9010-30 also to reach the 0.8980 lows.
This could stall the decline for a correction. Breach would maintain the bearish momentum for 0.8945-55 and below.

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 ...

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[B]Bias: [/B] There appears to be risk of follow-through to 83.24-56 but may see a pullback to 81.05-26 first.

Friday's rush higher caught me out completely and it seems as if we'll see additional gains. However, only directly above the 82.79 high will see immediate follow-through. Until then take care and if there is an earlier pullback then I feel the 81.05-26 will support. From here we should see gains back to the 82.48-80 area and later to the 83.24-56 target. Only a direct break above 82.48-80 would see more immediate follow through to target.

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. ...

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