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[B]Bias: [/B] We're going to have to watch the 132.01-12 and 132.63 resistance
areas closely for signs of losses

Losses were seen as expected which stalled just above the lower 128.93 support. The pullback higher came as anticipated and we now need to watch two resistance areas closely for signs of a peak. The first is at the
132.01-12 area and the second at around 132.63. If we are going to see the downtrend resume then these are the barriers. Therefore, only look for stronger gains if the higher132.63 resistance breaks. If seen then expect follow-through to 133.00 and probably 133.32-45 and then the 133.95-134.27 resistance area.

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

Attached Files

• The Brief Daily Forecaster.pdf (23.1 KB, 96 次查看)

[B]Bias: [/B] While I feel the 1.4448-96 area will be tested today I feel we'll
end the day higher

Price extended its losses over the day and remains under pressure. However, I don't think we're going to see the larger push lower today. I can see losses into the 1.4470-96 area at least and this is my favored stalling area but we should also allow for 1.4448. Thus, look for a bullish reversal pattern in this broad area. What I feel is more likely is a reversal back above 1.4550-83 that will extend the rally back to 1.4621-42 and after a small pullback to the 1.4672 peak at a minimum, probably a little higher but I doubt above 1.4718.

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

Attached Files

• The Brief Daily Forecaster.pdf (24.8 KB, 120 次查看)

[B]Bias: [/B] I feel we may have seen the high already.

I am still rather cautious about expecting breach of 80.03 and feel that the area between 79.54-74 has a few projected targets so with quite a number of bearish divergences around we should be aware of the risk of a reversal lower. Indeed, the move from 79.54 has stalled just above the key 79.10 corrective low and if this breaks then I feel it will spur further losses.
Once seen look for extension to the 78.55 swing low at least and although it may stall the decline temporarily I would expect this decline to reach the
77.95-78.18 area at least but this should provide a pullback. Next support is seen at 77.16-34 and 76.82.

Please view the complete ...

Attached Files

• The Brief Daily Forecaster.pdf (23.2 KB, 154 次查看)

[B]Bias:[/B] Care here - there seems a risk of seeing 130.60-84 again - but
overall I expect gains

No break was seen below 130.48 and gains seen from the 130.69 corrective low. I'm a bit mixed and there does seem risk of price retesting this 130.69 area again - but probably not below 130.60. If this is seen look for a bullish reversal pattern. Overall, I still remain cautiously bullish but the movement we saw yesterday may well mean we see the rally higher than the target suggested yesterday. Thus while 130.60-70 supports look for gains to push back above 131.57-78 and to the 132.01-14 area and probably striaght through for 132.68 at least. Take care here as this does have a good chance of holding and provoking a reversal ...

Attached Files

• The Brief Daily Forecaster.pdf (23.2 KB, 118 次查看)