Bias: I look for losses through 0.8967-72 to trigger follow-through to 0.8881 initially
The 0.8996-98 failed to cap but the 0.9024-34 area did and cautiously I think we have seen the high. Thus, only back above 0.9035 would cause a stronger reaction higher above 0.9066 to the 0.9080-93 resistance. Take care here. If seen it should hold for a correction. Note next support at 0.9143.
18th February: It is possible that we have seen the high and we'll need a break back above 0.9035-46 to resurrect the 0.9094 target. If this is seen then it will imply a pullback but also then a new high once complete.
With the higher resistance at 0.9022-34 holding I feel we should soon see losses develop. A break below the 0.8967-72 area should confirm follow-through below 89.52 and down to 89.12 to retest the 0.8881 low. This general area should hold once again. However, note further support at 0.8845 and 0.8786-06.
22nd February: I still feel the uptrend has ended and cautiously I feel we can see additional losses.
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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. (+120 pips)