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[B]Bias:[/B] While 1.0193-04 supports the bullish structure holds for gains else see a deeper correction

Losses developed as preferred, slipping through the ideal 1.0225-35 support but not below the 1.0193 key support. There has been a small recovery this morning but not enough yet to confirm resumption of the rally and until then we still need to monitor the 1.0193 support. A break above the 1.0266 pivot resistance which we've tested already this morning would assist this higher through to the 1.0310-15 pivot resistance and later to the 1.0352-73 peaks. I suspect this will hold for a correction lower. Above 1.0380 the targets are at 1.0447-67 - max 1.0505.

Any earlier loss of 1.0190 would suggest the bullish ...

Attached Files

• The Brief Daily Forecaster.pdf (27.2 KB, 136 次查看)

[B]Bias: [/B] While 1.3682-00 holds any early dip we should see a pullback to 1.3824-43 before lower again

Loss of 1.3920-28 was the first sign of the upside breaking down. When GBPUSD joined the decline that sealed the move. Thus, overall I am looking for losses. However, having said that I feel there is support in the 1.3682-00 area which should hold for a correction higher. Look for bullish trade set ups in this area. From here I will be expecting a recovery back to the 1.3746 corrective high initially and after a correction the pullback should deepen to 1.3824-43. Look for bearish trade set ups in this higher area. Only above the 1.3890 pivot resistance and 1.3926 would generate a stronger recovery.

Only ...

Attached Files

• The Brief Daily Forecaster.pdf (27.1 KB, 79 次查看)

[B]Bias: [/B] While 0.9304-13 (max 0.9649) caps the structure still points lower.

Yesterday's correction edged a little higher than I had wanted but I feel that this still has a basic bearish structure still. Ideally now the
0.9604-13 area should cap and extend losses through the 0.9541-75 area and back towards the 0.9462 low at least. A lower intermediate target is at 0.9400-22 which should cause a correction. (NB. I am prepared for this decline to be slower than the rally in EURUSD.) However, do also note the lower targeted support at 0.9335-45.

Only an earlier reversal back above 0.9650-55 would cause yet another rethink. There is then some resistance at the 0.9665-85 congestion area and then higher ...

Attached Files

• The Brief Daily Forecaster.pdf (27.1 KB, 112 次查看)

[B]Bias:[/B] I'm mixed between the 81.90-00 area capping or 82.60-74 - but overall this remains bearish

We didn't see the pullback higher on Friday but a retest of the 80.88 low and actually a new low by 1 pip. There are different ways of looking at this with the 81.90-00 area providing resistance but a fuller correction still around 82.60-74. I think we're going to have to watch both areas and react as any tests/breaks occur. Only a break above 82.80 would imply a stronger correction higher with the next natural resistance being at 83.60-97.

If the lower resistance holds - and look any where around the 81.66-90 area - then I suspect we'll see the downtrend resume to reach the original target at 80.36-73. Look ...