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[B]Bias: [/B] Watch the 1.6263-76 resistance area - which could cap for further losses

We saw break above the1.6282 high which saw follow-through to just below 1.6343 high before much stronger losses. At this point I feel we may have found an intermediate low, though should allow for 1.6164. I feel a pullback is due that should return back to the 1.6263-76 resistance area which I feel should cap for additional losses. From the pullback or a direct loss of 1.6160 look for follow-through below 1.6138 and 1.6115 and towards the 1.6056-96 area. I somehow doubt we'll see this today but should hold on first test.

Only an earlier break above 1.6285 would imply a return back towards 1.6295-05 - still take care there ...

Attached Files

• The Brief Daily Forecaster.pdf (33.3 KB, 84 次查看)

[B]Bias: [/B] It still looks like this should move higher to 0.9367-01 at least

I am well aware of the downside risk here and that should be kept in mind at all times. However, the move lower on Friday doesn't appear to have strong directional qualities and thus I am favoring the upside again today. This should be confirmed on a break above 0.9280 to retest the 0.9300-05 corrective high and once that breaks back to the 0.9328 high. Overall I feel this still has potential to 0.9367 minimum and potentially the 0.9400-35 retracement resistance where I would like to see a cap for stronger losses.

However, in terms of the ultimate downside projection targets I am well aware of the risk of stronger losses which I feel ...

Attached Files

• The Brief Daily Forecaster.pdf (33.3 KB, 107 次查看)

[B]Bias: [/B] I feel a little care is required here.

Gains were seen but stronger than expected, indeed to the 82.51 resistance. Given the strength in EURJPY and the probability this implies further strength in the cross I am more open to an alternative scenario. However, the cross is not too far off an intermediate high and therefore price here has an element of potential complexity. While 82.25 supports there is still room for follow-through to the 82.51-70 resistance area (max 82.86). If this is seen then look for bearish trade set ups here. Only a break above 82.90 would confirm strength above 83.04-16 and to the 83.35-59 area.

Any drop below 82.10-20 would extend losses to 81.90 at least. If this occurs ...

Attached Files

• The Brief Daily Forecaster.pdf (33.5 KB, 82 次查看)

[B]Bias: [/B] I look for an early dip to the 1.3803-16 support before the rally extends to 1.3992-1.4027

Yesterday's pullback was even shallower than I had expected at the minimum, the subsequent rally finally breaking above 1.3860. This keeps the uptrend in place and should continue. However, the same pattern is expected - an initial pullback to maximum 1.3803-16... Look for bullish trade set ups anywhere close to this support. From here I will be expecting the uptrend to resume back to yesterday's 1.3889 high and then above towards 1.3956 minimum and with my favored target at 1.3992-1.4027. That should cap for a deeper correction.

The risk to the favored scenario is that the 1.3889-99 area caps and we see loss ...

Attached Files

• The Brief Daily Forecaster.pdf (33.3 KB, 118 次查看)