Price: 1.3632

Bias: I can't rule out another push higher to 1.3788 (max 1.3853-76) but I feel a correction is due

Daily Bullish:
The uptrend extended with the same vigor and pushing straight above resistance levels to stall at 1.3737. A can't really fit this level into a final peak and thus we must be aware of the risk of yet another (but I think final) push higher today. There is support around 1.3576-1.3610 and while this holds there does remain a good chance we shall see a move above 1.3737 to 1.3788 minimum and at most the 1.3853-76 area. Watch these areas for bearish reversal patterns... Also note the next resistance at 1.3925 and then 1.4015€¦

MT Bullish:
20th March: I am struggling to identify the correct wave structure here. I suspect that in the daily picture we may be seeing a daily triangle and we are in Wave ^c higher to 1.43. Closer resistance that looks like holding is at 1.3788, 1.3853-76 and 1.3925.

Daily Bearish:
We didn't get below 1.3366-00 - the low seen at 1.3415. Today close support is a little vague but I see some at 1.3610 and stronger at 1.3576 which, while the uptrend remains intact should hold. Thus a break below 1.3576 would suggest a deeper correction with next (minor) support at 1.3520-30 and at 1.3484. This lower level may well cause a small correction. Below there is stronger support at 1.3403-29 and a distant 1.3334.

MT Bearish:
20th March: We should get a stronger pullback at some point but it doesn't look like coming too soon. The strongest risk if if the 1.3788 resistance caps - if this occurs we may see a decent size correction, but let's see what happens first.

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.