Price:   140.58

Bias:     This still looks bullish but watch the 140.80-90 area - only breach extends to 141.82-04

Daily Bullish:

Yesterday's gains certainly look bullish and with momentum still quite strong we may well see follow-through today. There is a barrier at 140.80-90 and this could cause a correction so take care. A break above 140.90-00 would maintain the bullish momentum for a move above 141.27-54 and into the 141.82-04 area. Take care here as I feel this could be the most we see. However, also note the 142.67 resistance.

MT Bullish:

31st March:            The upside has proved itself and as long as we get above 140.80-90 then expect 141.82-04 and possibly 142.67. If this somehow gets stronger (probably through GBPUSD) then note resistance at 144.10 & 144.60.

Daily Bearish: 

Momentum is more on the bullish side so take care. Only a break back below the 140.30 pivot support would risk a return to 139.73 and maximum 139.30-50. I'd expect this to hold. Thus, only breach would trigger more robust losses through 139.05 & 138.35 for 137.55-90.

MT Bearish:

 31st March:        This certainly looks as if it's going to move higher but watch the 141.82-04 and 142.67 resistance areas which could cause a correction at least - maybe even total reversal.

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. (+95 pips)