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[B]Bias:[/B] We should see 0.9370-00 support for a reversal higher.

Price has reached the 0.9390-14 target support - we may have to allow for 0.9370. However, there is now an hourly bullish divergence and a mini-minor 4-hour divergence also. I still feel this will recover - a break above
0.9450-72 signaling follow-through to the 0.9521 pivot resistance. It should cause a reaction at least but the next larger target is way back higher at 0.9600-22... Above there is the 0.9685 swing high.

If 0.9370 breaks and the Dollar Index breaks down then the outlook will be bleak. The first target will be the 0.9300 low but overall this will begin to look like a much more sustainable bearish structure for losses below ...

Attached Files

• The Brief Daily Forecaster.pdf (33.4 KB, 85 次查看)

[B]Bias:[/B] Cautiously I feel its time this rallied again.

We did see losses yesterday although the final low stalled between two supports at 82.30. The recovery from there looks too deep now to look for additional losses and therefore I feel looking for bullish trade set ups on pullbacks should be the way to go. There is initial resistance at 82.67-70 but this should cause a correction and then any follow-through may find it hard to get above the 82.90-11 area. I suspect a correction from there. Any move above 83.11 would cause follow-through towards the 83.67 high.

Only below 82.14-30 would ruin my day and risk further slippage through the
81.84 low and then down to 81.31 and potentially the 80.91 ...

Attached Files

• The Brief Daily Forecaster.pdf (33.6 KB, 96 次查看)

[B]Bias: [/B] Look for 1.3541 to support for a final push higher to 1.3700-05 before reversing lower.

Price rallied well on Friday and in line with expectations. It has reached the initial 1.3642 target but I don't see that as the final high. We should see losses in a correction to around 1.3541. Look for a bullish trade set up there for gains back to around 1.3641 again, a mild pullback and then follow-through to the higher target at 1.3700-05 where several projection targets lie. Look for bearish trade set ups here... I don't think it will get any higher but also note the 1.3754 deeper projection.

Only an earlier break below 1.3530-40 would imply the final high has already been seen and generate follow-through ...

Attached Files

• The Brief Daily Forecaster.pdf (33.4 KB, 87 次查看)

[B]Bias: [/B] While 111.30-45 supports I look for the upside to extend to 112.75.

I got the USDJPY view totally wrong yesterday and in some ways this has solved the problem here. The base at 110.31 has triggered follow-through higher to reach towards the 111.91-12 resistance. I feel this should cap for a correction to the 111.30-45 area. Look for a bullish trade set up in this area for the final rally back above 111.12-18 and to the favored target at 112.75. Also note a more aggressive target at 113.12. Look for bearish trade set ups here...

Only directly below 111.25 would break the current bullish structure and then risk a reversal back to the 110.31-65 area. There's a good chance this would hold on first test. ...

Attached Files

• The Brief Daily Forecaster.pdf (33.5 KB, 94 次查看)