Price: 0.7185

Bias: While 0.7130 supports I look for gains to extend to 0.7287-05

Daily Bullish:
Friday's correction stalled above the 0.7042 minimum target and from the 0.7056 low we are seeing the upside being pushed more strongly, thus far reaching the 0.7207 level. I still feel we shall see additional gains but there does seem risk of an initial correction which I see having potential for the 0.7130-60 area. While this holds we can see a second attempt back to 0.7207 and then probable follow-through for gains to reach the 0.7267 high at least. Take care from this point. I also see targets at 0.7287-05 which I feel will cap.

MT Bullish:
1st April: We are stuck between two alternatives and require a swift resumption of the upside above 0.6910-25 and 0.6968 to maintain the upward momentum for 0.7030-50 and potentially the 0.7092 high again. Above sees resistance at 0.7268-0.7308.

Daily Bearish:
The MT rally continues but is now approaching the key 0.7268-0.7308 target resistance. Thus look for a bearish reversal pattern to develop in this area. However, first thing today I do feel there is a strong argument for a correction lower. A break below 0.7160 should reach 0.7130 but I'm doubtful we'll see anything below here and ore likely a test to 0.7268-0.7308. Thus, only breach of 0.7125 would extend the decline to 0.7106 at least and I feel then to the 0.7056 corrective low. Next support is found at 0.6950-70.

MT Bearish:
3rd April: Well, we're almost back to the daily 0.7267 high and frankly it looks as if it will eventually break. Thus only below 0.7000 would undermine the immediate bullish structure for a deeper correction€¦

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 now available on the Daily Forecast page of my web site.