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