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[B]Bias:[/B] Mixed - waiting for breaks but overall I feel we shall see range
trading today

This has become really quite tight and the near term may well be confined to a 1.6328-1.6421 range. If we are to see any stronger rally then we'll need a break above 1.6453. If seen then I suspect we'll make our way up to 1.6494 and 1.6519 at least. Beyond here is a little uncertain. The next resistance I can see is at 1.6563. To allow for any stronger move then we have the
1.6603 high followed by 1.6630-74.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential ...

Attached Files

• The Brief Daily Forecaster.pdf (23.5 KB, 118 次查看)

[B]Bias: [/B] I'd prefer a bullish scenario but wait for a break above 90.48-80 -
until then there is still downside risk

Friday's drop really puts price on the back foot. Indeed, there is considerable resistance around the 90.48-80 area and it is only above here that would bring potential for the preferred rally. Right now we are meeting first resistance at 90.07-24 and while this holds we could see another drop.
The key support as far as I can see is between 88.75-82 & 89.02. If there is a bullish reversal pattern and 4-hour momentum has begun to turn higher in a bullish divergence this could provide the base. A direct break above 90.48-80 would provoke follow-through to around 91.40-61 which should hold on ...

Attached Files

• The Brief Daily Forecaster.pdf (23.3 KB, 119 次查看)

[B]Bias:[/B] While 1.0200-05 caps I feel we can see direct losses to 1.0148 -
take care - and probably 1.0070-92

We have just about reached the target at 1.0292-12 and while there can still be a test of this area I feel it will cap for a reversal lower. The key level to break is the 1.0240-45 pivot area. Once this has broken I'd expect follow-through to between 1.0192-16 and take care as this should cause a pullback. This might wrap up the day. However, a breach of 1.0190 will maintain the bearish momentum for the 1.0015-20 and 1.0082 pivot supports where a reaction should be expected. Finally there is the 1.0032 low.

Please view the complete analysis in the attached PDF file.

For a full ...

Attached Files

• The Brief Daily Forecaster.pdf (23.2 KB, 99 次查看)

[B]Bias: [/B] We may have seen the low already but allow for 1.4674-82 but today
should see a reversal higher

The 1.4839 resistance held perfectly and we have reached the 1.4703 target and just a little more. Hourly momentum is showing a tentative bullish divergence and at the most I see room for losses to 1.4664-82 only and probably 1.4674-82. From here I shall look for price to stage a recovery back above 1.4730 which should then extend the recovery towards the
1.4790-95 and 1.4814 areas. This should cause a correction. Once above 1.4814I feel the move can accelerate a little more comfortably above
1.4845-76 and towards the 1.4926 swing high. This too should stall the rally for a pullback.
...

Attached Files

• The Brief Daily Forecaster.pdf (23.2 KB, 97 次查看)