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[B]BIAS[/B]: This should now extend losses to 0.8980 and later 0.8879

[B]MAIN ANALYSIS[/B]: As with EURUSD, yesterday's plans were too intricate and the break below 0.9061-71 opened the way for direct losses. As far as I can see we should see progress to the 0.8980 projection that should trigger a pullback to the 0.9025-40 area. This should provide the foundation of the next decline that should then push below 0.8980 and down to 0.8927. This lower target could generate a much deeper pullback closer to the 0.69080-00 area.

[B]COUNTER ANALYSIS[/B]: Only directly above 0.9100 would complicate the decline and suggest further consolidation before losses resume.

For more information regarding the ...

Attached Files

• The Brief Daily Forecaster.pdf (86.2 KB, 67 次查看)

[B]BIAS[/B]: Care required - while 1.3310-21 caps this can still recycle lower…

[B]MAIN ANALYSIS[/B]: In the end we did see continued sideways consolidation for the entire day. There's risk of a little more to come into the European morning. However, I feel that as we go into the North American shift that price should poke its head up to the 1.3297-10 area which I see capping and provoking a recycling back down to the 1.3186 low and probably into the 1.3151-61 area. This then needs to support to provoke the next stronger push higher.

[B]COUNTER ANALYSIS[/B]: Only a direct break above 1.3310-21 would extend the gains more directly with minor resistance around 1.3331-50 but above there I can't see any firmer ...

Attached Files

• The Brief Daily Forecaster.pdf (87.2 KB, 79 次查看)

[B]BIAS[/B]: This should drift lower into the 1.5663-91 area for a recovery into the range

[B]MAIN ANALYSIS[/B]: The 1.5809-19 area did support for a while but could not manage to muscle up enough power to make it back towards the 1.5928 high. Instead, the break below 1.5808 implies that the larger correction should continue for a few days more. Today that should mean that while there is still risk of initial erratic behavior the 1.5663-91 area should support for a return higher into range.

[B]COUNTER ANALYSIS[/B]: Only an earlier break below 1.5650 would concern and suggest a test of the 1.5625 retracement support. Also note 1.5672-96 - below would be very bearish.
Only back above the 1.5928 high would ...

Attached Files

• The Brief Daily Forecaster.pdf (85.2 KB, 68 次查看)

[B]DAILY OUTLOOK[/B]:

[IMG]http://mediaserver.fxstreet.com/Reports/53afdcde-b27b-4101-a168-a8013f2924b6/FXS+1_20120221075946.jpg[/IMG]

[B]31st January[/B]:

Without the additional high and the clear bearish divergence I feel this has swayed to the expanded flat Wave -ii-. We should have seen Wave i if Wave efc so the coming few days should see a pullback in Wave ii - and allow for a flat correction - before losses can extend lower. I suspect Wave iii will stall around 76.03-51for a pullback in Wave iv and then extension in Wave v to the 76.40-72 area to complete Wave efc and Wave -ii-.


[B]INTRADAY OUTLOOK[/B]:

[IMG]http://mediaserver.fxstreet.com/Reports/53afdcde-b27b-4101-a168-a8013f2924b6/FXS+2_20120221080157.jpg[/IMG] ...

Attached Files

• The Brief FX & Metals Weekly Harmonic Analyst.pdf (378.8 KB, 45 次查看)