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[B]Bias: [/B] Only below 0.9740 would extend losses else see this move sideways

Price has begun to do strange things and I tend to wonder whether this is going to bring a sideways consolidation. Because of this I'd rather wait to see the larger range break before considering a more directional move. Key support is close at 0.9740 and also at the 0.9707 low. Therefore, if a bearish trade set up is seen around the 0.9740 area then take care at the 0.9707 low. A break of 0.9700 is required to maintain the downtrend more aggressively for 0.9623-46. This stands a chance of causing a pullback.

If we see a bounce from 0.9740 that extend back above the 0.9780 pivot resistance then we could be seeing a trading range that ...

Attached Files

• The Brief Daily Forecaster.pdf (33.2 KB, 81 次查看)

[B]Bias: [/B] It looks like we are seeing the correction recycle back to 1.0094-20

Yesterday's rally stalled 3 pips above the prior 1.0260 high and this appears to suggest that we're seeing a flat correction that should allow the correction to recycle back to the 1.0120 low and possibly as low as the 1.0094 area. This should see the current decline extend to the 1.0146 support. If we then see a correction to the 1.0175-95 area look for bearish trade set ups for a final leg lower back to 1.0146 and after a brief correction to the 1.0094-20 area. Look for a bullish trade set up here.

Only below 1.0090 would maintain the bearish momentum for the 1.0069 corrective low and potentially then to the 1.0010-40 congestion ...

Attached Files

• The Brief Daily Forecaster.pdf (33.2 KB, 69 次查看)

[B]Bias: [/B] I look for 1.6014-20 to cap for extension of losses

Yesterday's correction was much, much deeper than expected but having failed to move above the 1.6093 high does still provide a bearish outlook and I feel this should move to marginal new lows. The 1.5965 corrective high seen earlier this morning should be enough. From there I look for losses back to yesterday's 1.5898 low but around this area should see a limited correction before seeing losses extend to the 1.5835-51 area and more likely the
1.5800-24 target. Look for a bullish trade set up here.

Only an earlier break above 1.6047-65 and the 1.6093 high would generate direct gains through to 1.6141-76 at least and probably to 1.6213 or ...

Attached Files

• The Brief Daily Forecaster.pdf (33.3 KB, 79 次查看)

[B]Bias: [/B] There is still room for marginal gains but also a risk of a resumption of losses.

The overall upward momentum has slowed considerably. There is a 4-hour bearish divergence in place while daily momentum is overbought. The warning signs are there for a reversal lower. However, as yet there has been no break below key swing lows - these being at 83.02-13. Until they break I cannot rule out sideways consolidation between 83.30-35 and 83.62-77 and potentially a small poke higher to the 84.02-25 area - and at most 84.58-76.
At all times be aware of any bearish trade set ups that occurs from this point forward. Only a break above 84.76 would suggest a move through to the 85.38 and 85.92 peaks.

Any ...

Attached Files

• The Brief Daily Forecaster.pdf (33.7 KB, 86 次查看)