The Daily Forecaster

[B]Bias: [/B] Cautiously I feel the 1.0580-85 area will support for a break above
1.0629-32 and to 1.0667-86 before lower

The 1.0629-32 resistance marks the break for an extension of the recovery. I would prefer a correction first to the 1.0580-85 support before the break higher and if seen I feel this would be a good buying area. However, if the
1.0632 high breaks directly then expect follow-through to 1.0648 and probably 1.0667-86. However, I will be looking for this resistance to hold for a reversal lower. Thus, only above 1.0590 would maintain the upside momentum for 1.0725 and 1.0757-73 - posisbly en route the 1.0832 high

Please view the complete analysis in the attached PDF file.
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[B]Bias: [/B] I expect the day to end lower but while 94.12 supports the initial
risk is for a test of the 94.90-95.20 resistance

Basically I feel that we should be on the lookout for a bearish reversal pattern right from the start today as price has done enough to satisfy the correction now. However,I will go with the favored view that we'll see the 94.90-95.20 resistance but this will provoke the expected reversal lower.
While this rally is possible the 94.12-18 support must hold. Thus from 94.90-95.20 or a direct breach of 94.12 look for losses to resume back through Friday's 93.41 low and onto 93.05, 92.42 and then to the 92.03 target. I expect a bounce there but do also note the 91.74 low.

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Attached Files

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[B]Bias:[/B] I look for a dip to the 1.4189-01 support before a rally to
1.4301-27 and then back lower again

It looks like we'll get an initial repeat of yesterday with downward pressure expected to take price back to the 1.4189-02 support area. I feel this will hold and from there look for price to break higher and this time break through yesterday's 1.4273 high to extend into the 1.4301-27 range.
However, this should cap and cause a move back lower. Thus, any stronger bullish stance will require a break above 1.4330 and only if see would it extend gains through to 1.4359 at least and I suspect the 1.4406 resistance.
This should then cause a correction. Above there note the 1.4445 high

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Attached Files

• The Brief Daily Forecaster.pdf (23.1 KB, 110 次查看)

[B]Bias: [/B] There seems to be risk of the upside extending to 156.50-79 and
potentially 157.48-67 before lower again

The structure here is less clear but does seem to suggest potential for a second test of the 157.48 high and max 157.67. While the 155.10 area supports I feel this more higher is supported. However, I feel we should run into a barrier again around the 157.48-67 area. Thus, any stronger bullish stance will require a break above 157.70 and only then would the upside extend further towards 158.24 at least. Then note resistance at 159.20 and 160.15.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis ...

Attached Files

• The Brief Daily Forecaster.pdf (23.0 KB, 113 次查看)