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[B]Bias: [/B] While 1.1227-76 supports I feel there is still room for gains through to 1.1542 at least and possibly 1.1666

Yesterday's gains reached just short of the higher 1.1449 resistance from where we have seen a pullback. I remain more bullish and feel that any pullback should remain above the 1.1257-76 area. From there, or a direct break above the 1.1403 corrective high followed by the 1.1440 high I feel the greater risk remains higher for 1.1463 and 1.1542 at least. If I have any stronger preference I see the 1.1666 area as a target but I'm aware this is far more aggressive than the EURUSD target...

Only below 1.1227-59 would imply we are already seeing a deeper correction and in that case we should be ...

Attached Files

• The Brief Daily Forecaster.pdf (77.9 KB, 108 次查看)

[B]Bias:[/B] Momentum is indicating further losses

Typical for this pair it messes around and then just collapses. the current decline is strong and momentum remains bearish. Therefore do not consider buying unless there is strong bullish signal. Until then the 0.8800-20 area should cap for follow-through below 0.8769 and then the 0.8736 low. Take care around here as there is a chance we could see a correction higher. Next support is at 0.8675, 0.8643 followed by the larger 0.8578 low.

Only an earlier break above 0.8820 would concern but even then I feel just for a correction. Then note resistance at 0.8860 and stronger at 0.8935.

Please view the complete analysis in the attached PDF file. ...

Attached Files

• The Brief Daily Forecaster.pdf (85.7 KB, 72 次查看)

[B]Bias: [/B] I suspect a pullback to the 1.4764-97 area before losses back to the 1.4479 low.

Losses were pretty emphatic and momentum remains bearish. However, I feel that while 1.4550-71 supports there is early risk of a pullback higher. A move above 1.4702 (which should initially hold) will extend gains through
1.4731 and into the 1.4764-97 resistance area. This is a critical pivotal area. Given the momentum conditions I feel this will cap for losses right back down to the 1.4550-71 area where a shallower correction should be expected before losses through to the 1.4479 low again. There may be marginal overlap with 1.4436-64 being the maximum I expect. Below there would maintain the downtrend for 1.4396-04 and probably ...

Attached Files

• The Brief Daily Forecaster.pdf (87.6 KB, 95 次查看)

[B]Bias: [/B] While 92.77 holds I feel the risk remains higher for 93.70-77 and later 94.26

The 94.26 area still remains the intermediate target and I feel it should develop more directly but there is a mild risk that we see the correction recycle back to 92.77-80. More likely we should see the 93.27 peak break which should spur a rally through the 93.53 high and on to 93.70-77. Expect a pullback from there probably stalling around the 93.40-50 area. While this holds the next leg should be seen to the 94.26 target. Look for bearish trade set ups here for a correction lower.

If we are to see a second drop to 92.77-80 then a move below 93.00 would provoke follow-through. Then the 92.77-80 area appears to become ...

Attached Files

• The Brief Daily Forecaster.pdf (86.6 KB, 101 次查看)