Price:   1.3309

Bias:     Cautiously I look for a pullback to 1.3386-01 before lower again

Daily Bullish:

The dip to 1.3283 and then recovery has caused a small adjustment and I feel that most likely we're going to see a move back to the 1.3386 high but probably no further than 1.3401. A break above 1.3327 should confirm this move. However, once this recovery has completed the downtrend should resume. Therefore, only a break above 1.3401 and 1.3418 would generate any stronger reaction back towards 1.3465-96 and probably max 1.3541...

MT Bullish:

25th March:            Given the weekly bearish flag I really don't think we're going to see any real sustainable rallies for several weeks. At this point, only above 1.3530-50 will imply a stronger outlook again.

Daily Bearish: 

The small blip down to 1.3283 appears to imply a lowering of resistance levels to the 1.3386-01 area. If this is seen then look for bearish trade set ups here. From this resistance or a direct break below 1.3244-67 I look for losses to extend more strongly below 1.3217-22 (minor risk of a reaction) and then more aggressively down to 1.3166, 1.3134 and then the next significant support at 1.3083. Ideally this should occur at the same time as USDCHF reaching 1.0890.

MT Bearish:

 25th March:        The 1.3405-28 area did break and this should be just the beginning of the continuation of substantial losses. While 1.3500-35 caps look for follow-through to 1.3222, 1.3064-80, 1.2940-60 and eventually by end April towards 1.2650-00.

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. (+115 pips)

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