Price:   85.69

Bias:     While 85.88-02 caps I look for losses back to 84.98 and later to 83.79-94

Daily Bullish:

Losses were seen as expected but clearly a lot more aggressive than anticipated. Only back above the 86.05 resistance would suggest a deeper pullback or even a move back into an uptrend. Note resistance then at the 86.50-60 pivot area followed by the broad 86.95-87.19 area...

MT Bullish:

28th April:           If I have any preference then I feel there is still room for losses to retest the 83.79-94 area and from there look for bullish trade set ups for a resumption of gains.

Daily Bearish: 

The downside has been robust and should still have further to go. Look for a cap in the 85.88-02 area - while this caps I look for resumption of losses below the 85.45 pivot support and onto yesterday's 84.98 low area. Expect a small pullback but then follow-through to 84.19 minimum and I feel the 83.79-94 area is more at risk. However, I feel that should hold...

MT Bearish:

 28th March:      The larger correction has developed as warned and cautiously I look for the 83.79-94 area to provide a base.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are available on the Daily Forecast page of my web site in the Trader Package review. (+20 pips)