Bias: While 0.9284-0.9307 supports I look for gains back above 0.9404 and towards 0.9497
Gains were seen as expected into the 0.9393-12 area where a high was seen. I feel the first move today will be lower to the 0.9284-0.9307 support area (probably towards the top). However, I feel this will support to provoke another rally that will push back above 0.9326-36, 0.9377 and yesterday's 0.9404 high to extend eventually to the 0.9497-0.9519 target area. Take care here as I feel this holds risk of being a major high. Only above 0.9520 would extend the rally closer to the maximum target at 0.9564.
13th November: I still feel there is more to go on the upside and while 0.9166-96 supports we could see this directly. There are still targets around 0.9514 at least and potentially 0.9564.
A reversal was seen from between 0.9393 and 0.9412 and for the first part of the day I feel we should see this extend a little further below 0.9326-36 and to 0.9307 at least. It could edge a little lower - but not below 0.9284. From here I expect a rally to the 0.9497 area where I feel we should be looking for bearish set up patterns. Only an earlier break below 0.9284 would concern and provoke a deeper correction below 0.9256-60 and to retest the 0.9210 low (max 0.9197) before higher again.
13th November: We have seen losses but I feel that we should take care around the 0.9166-96 support area. Thus, only below here would open up more aggressive losses for 0.9119 and 0.9053-69 en route the 0.8904-15 lows.
For access to my daily support & resistance levels please see the Daily Forecast page of my web site
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 along with a new report showing the prior day’s support & resistance levels.