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[B]Bias:[/B] This seems to buck the trend and suggest a recovery to 0.8450-75 before lower.

Price refused to obey me. so. the only conclusion that seems logical to me is that while we are still seeing a corrective structure we require a little more recovery before the next downward leg. The current rally should move back to the 0.8356 high where a risk of a pullback is present. Once complete then a move to the 0.8403 area appears to be implied. I am slightly concerned considering my overall view, but this does seem to suggest extension to 0.8450-75... However, take care.

The upside would appear to require a de-linking from the general U.S. Dollar bullishness. To break this we shall need a break below this morning's ...

Attached Files

• The Brief Daily Forecaster.pdf (88.3 KB, 92 次查看)

[B]Bias: [/B] I suspect the range trading should continue a while longer before losses develop

I continue to remain basically bearish but for the moment still see range trading potentially in the 108.60-109.80-00 range. Once complete we should see losses below 108.06-32 that should extend through 107.53, 107.20 and
106.25-54 to reach the ideal target around 104.40-60. Cautiously I feel that will be the end and should provoke a larger reversal higher.

Only an earlier break above 110.03-30 would confuse matters and extend gains to 110.71-88 initially and potentially back up to 111.94-112.10.

Please view the complete analysis in the attached PDF file.

For a full description ...

Attached Files

• The Brief Daily Forecaster.pdf (86.9 KB, 72 次查看)

[B]Bias: [/B] While 1.0515-40 supports I look for follow-through to 1.0677 and later to 1.0729-75

Yesterday's pullback was a little deeper than expected dropping 6 pips below the 1.0521 support. However, overall I remain positive here and it's more a matter of planning how this move will develop. This will not allow a break of the 1.0515-40 lows. The initial barrier on the way up is at the 1.0590-00 area. If this holds then we'll probably see further range trading above 1.0540 before finally breaking through to the 1.0642-52 area and probably the 1.0677 high. In urn this must break to carry price up into the 1.0729-1.0775 area. I expect a cap to develop here for stronger losses.

Only an earlier break below 1.0515-40 ...

Attached Files

• The Brief Daily Forecaster.pdf (86.8 KB, 81 次查看)

[B]Bias: [/B] Overall this should now reach 1.1780-90 but there could be some early consolidation above 1.1587-17

Losses stalled just above the higher 1.1418 support and from there we have seen scrappy upward progress. I can't say the structure is too clear but overall I see gains developing. During this process the 1.1587-1.1617 area should be the deepest we see. Early resistance is at 1.1689 followed by 1.1725 and I suspect some rather choppy trading around here and a pullback at come point that should ideally remain above 1.1617 but allow for 1.1587.
At the end of this the eventual target is at 1.1780-90 at least. If this breaks then the next target is all the way up at 1.1890-95.

Only a break below ...

Attached Files

• The Brief Daily Forecaster.pdf (86.7 KB, 77 次查看)