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[B][SIZE="3"]DAILY STRUCTURE[/SIZE][/B]

[IMG]http://i1079.photobucket.com/albums/w514/HarmonicElliottWave/FXS1.jpg[/IMG]

[B]2nd April[/B]:

The decline is progressing steadily and this remains the basic view. However, it does seem to me that the downside target appears more likely to get to the low end of the retracement range and closer to the 66.7% - 76.4% retracement between 76.39-77.07.

[B]8th May[/B]:

In the end this Wave b turned into the alternate count advised last week - a flat and therefore once the pullback to 80.25-45 is seen the next move should be lower in Wave c... to between 76.39-77.07.

[B][SIZE="3"]INTRADAY STRUCTURE[/SIZE][/B]
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Attached Files

• The Brief FX & Metals Weekly Harmonic Analyst.pdf (368.6 KB, 38 次查看)

[B]BIAS[/B]: While 1.3064-74 caps the downside remains at risk…

[B]Resistance[/B]:... 1.3074... 1.3097... 1.3120... 1.3140-45
[B]Support[/B]:........ 1.3043... 1.3021... 1.2990... 1.2954-75

[B]MAIN ANALYSIS[/B]: The 1.2907-32 area was broken and provoked extension to the 1.3060-80 area. We may have seen the high at 1.3064 but allow for 1.3074 and from here the downside can develop once again. There are minor supports at 1.3043 & 1.3021 and probably a little firmer at 1.2990. However, overall I'd expect a move down to around the 1.2954 low again. A correction should develop from here but not so deep and once complete should then progress down to the favored target at 1.2900-10. There is potential for ...

Attached Files

• The Brief Daily Forecaster.pdf (87.8 KB, 37 次查看)

[B]BIAS[/B]: The initial burst higher has been seen and the upside should now be more choppy

[B]Resistance[/B]:... 0.9270........ 0.9290... 0.9310... 0.9334
[B]Support[/B]:........ 0.9233-47... 0.9210... 0.9190... 0.9175-80

[B]MAIN ANALYSIS[/B]: The break above the 0.9167-89 target area has reached the bottom end of the next resistance at 0.9270-90. This has a chance of seeing a pullback to the 0.9233-47 area at least that could provide the launching pad for the next rally above 0.9270 to 0.9320-40 from where a further correction is likely.However, take care as there is some ambiguity and take a long look at the 0.9233-47 area to ensure it will hold else the alternative is a pullback to around 0.9210 ...

Attached Files

• The Brief Daily Forecaster.pdf (86.4 KB, 38 次查看)

[B]BIAS[/B]: There's still a slight risk of a minor new low but I remain overall bullish

[B]Resistance[/B]:... 105.65-70... 106.12... 106.54... 106.80
[B]Support[/B]:........ 105.05-34... 104.61... 104.29... 103.90

[B]MAIN ANALYSIS[/B]: We did see gains but which stalled at 106.12 from where there has been a deep pullback. We're basically in a similar position to yesterday. The recovery wasn't enough to confirm a reversal and still holds some risk of a minor new low below 105.12 but remaining above 104.61... Ideally I'd prefer this to move directly higher but best wait for a break of yesterday's 106.12 high that should allow a retest of the 106.54 high. We have to be careful as there could still be a ...

Attached Files

• The Brief Daily Forecaster.pdf (85.6 KB, 44 次查看)