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To follow on from yesterday's comments:

[B]BIAS[/B]: The 1.2944 - 1.3038 range appears to be critical to the next larger move

[B]Resistance[/B]: 1.2984 1.3013 1.3030-38 1.3056
[B]Support[/B]: 1.2944 1.2925 1.2899 1.2880

[B]MAIN ANALYSIS[/B]: We saw gains as expected.. But actually much stronger than I had thought to reach 1.3013. Being the upper end of the target I suggested on Monday there is a risk that we've seen a more cumbersome final push higher. However, within yesterday's rally I feel that we should also consider the possibility of an even higher high. Thus, we have three options today:

- that we see a break above 1.3013 that should extend gains into the 1.3030-38 ...

Attached Files

• The Brief Daily Forecaster.pdf (88.8 KB, 53 次查看)

[B]BIAS[/B]: There may be potential for the correction to reach 1.2974-95 before lower again

[B]Resistance[/B]:... 1.2960... 1.2974... 1.2990-95... 1.3020
[B]Support[/B]:........ 1.2944... 1.2920... 1.2898........ 1.2880

[B]MAIN ANALYSIS[/B]: Yesterday's losses reached the 1.2872-85 target and has bounced from there as suggested. As mentioned yesterday this has potential to reach 1.2974 and I suspect we may need to allow for 1.2990-95. (The 1.2974 level may cause a 20 point correction before higher to 1.2990-95.) From 1.2990-95 or a failure at 1.2944, would suggest more direct losses back to yesterday's 1.2880 low. Below there note the 1.2857-64 retracement area and also the 1.2825-35 retracement and ...

Attached Files

• The Brief Daily Forecaster.pdf (86.7 KB, 43 次查看)

Many Elliotticians find the migration from looking at an extended wave structure that R.N. Elliott proposed into a series of 3-wave structures. In fact, there is not a lot of difference and this video describes how Harmonic Elliott Wave reorganises 5-wave moves into groups of three. By utilising relevant wave ratios this actually generates the ability to forecast with greater accuracy.

[video=youtube;T05RQ6v3XH8]http://www.youtube.com/watch?v=T05RQ6v3XH8[/video]

Good trading
Ian

[B]BIAS[/B]: While 82.20-24 caps we should see extension to 81.61-71 and later 81.27-39

[B]Resistance[/B]:... 82.24... 82.37-42... 82.62........ 82.83
[B]Support[/B]:........ 81.92... 81.61-71... 81.27-39... 81.12

[B]MAIN ANALYSIS[/B]: The high end of the 82.48-62 resistance capped well and from there we have seen downside progress. It probably topped out this morning at 82.21 but allow for 82.24. This should see it extend lower to the 81.61-71 area for a correction of about 30-35 points before extending losses to the 81.39 area (max 81.27.) From this point we need to take care as it could open up a variety of alternatives in a corrective pattern - or equally it could just allow the uptrend to resume. ...

Attached Files

• The Brief Daily Forecaster.pdf (88.2 KB, 46 次查看)