The Daily Forecaster

[B]DAILY STRUCTURE[/B]

[IMG]http://i1079.photobucket.com/albums/w514/HarmonicElliottWave/FXS1--7.jpg[/IMG]

[B]28th August[/B]:

The Wave ^d is now confirmed at 1.0613 and thus overall we should continue to see losses in Wave ^e. The first ABC looks like stalling towards the lower half of the span of the last Wave b -- around 1.0200--40 in Wave c. In terms of correlating this with the Dollar in general I wonder whether we should be expecting a complex Wave x. That needs to be assessed as the decline continues but overall I still have a lower Wave ^e target.

[B]INTRADAY STRUCTURE[/B]

[IMG]http://i1079.photobucket.com/albums/w514/HarmonicElliottWave/FXS2--7.jpg[/IMG] ...

Attached Files

• The Brief FX & Metals Weekly Harmonic Analyst.pdf (357.0 KB, 60 次查看)

[B]BIAS[/B]: While 0.9578-85 caps we should see losses down to 0.9532 and 0.9506

[B]Resistance[/B]:... 0.9578-85... 0.9615-20... 0.9640... 0.9659
[B]Support[/B]:........ 0.9532-38... 0.9506........ 0.9482... 0.9457-62

[B]MAIN ANALYSIS[/B]: There was no return to the 0.9598-06 area but direct losses that stalled just above the higher 0.9532 projection. I can't see that this decline is complete and thus while 0.9578-85 caps we should see losses extend to 0.9532 and while it will be good to observe, my feeling is that price will reach the 0.9506 projection. The correction from there should be very brief as well - potentially to around 0.9540-60 before the final decline - probably next week - to the 0.9410-40 ...

Attached Files

• The Brief Daily Forecaster.pdf (87.4 KB, 58 次查看)

[B]BIAS[/B]: Slightly mixed here…

[B]Resistance[/B]:... 99.18... 99.38... 99.78... 100.34
[B]Support[/B]:........ 98.65... 98.35... 97.75... 97.40

[B]MAIN ANALYSIS[/B]: Although price didn't dip to 98.45-65 we did see the expected rally to the 98.60-00 area and just above. 4-hour momentum is displaying a bearish divergence but this will require confirmation by a break below 97.70… Otherwise hourly momentum is still quite bullish and we have a rising 4-hour price equilibrium that should support price close to the 98.00-40 area. If this support holds there is still risk of another push higher above 99.18 with further projection resistance at 99.38-78. If we get both hourly & 4-hour momentum displaying ...

Attached Files

• The Brief Daily Forecaster.pdf (88.5 KB, 58 次查看)

[B]BIAS[/B]: Odds seem to favour a sideways consolidation but could be messy but I retain a basic bearish outlook

[B]Resistance[/B]:... 1.5704... 1.5728... 1.5744... 1.5767-77
[B]Support[/B]:........ 1.5674... 1.5653... 1.5636... 1.5595-17

[B]MAIN ANALYSIS[/B]: Losses developed as preferred but the move has been rather messy and has a certain ambiguity about it but more in terms of whether we see a pullback higher, a deeper dip but then correction… or just a plain correction higher. Thus, it's a day to be aware of all possibilities but overall I don't see this extending strongly in either direction. I don't see the 1.5636 swing low being broken just yet. In the meantime this could see a drift back ...

Attached Files

• The Brief Daily Forecaster.pdf (86.8 KB, 53 次查看)