Bias: While 1.1690-12 supports I still look for gains to reach 1.1832-63 and later higher
No new lows yesterday but a direct resumption of the upside which has reached 1.1776. I still feel there is more to come and for this support at 1.1690-10 must remain intact. From there look for a move above the 1.1776 high that should then push further to 1.1822-32 at least. Take care as this could see a correction. Overall the higher targets are at 1.1955 and 1.1994.
11th May: We really need the 1.1481 support to hold to provide a pullback that would ideally have a target around 1.1955-1.1994 at least€¦ and potentially 1.2100...
I don't see the upside as complete just yet. Thus any bearish stance will require confirmation and the closest support is at 1.1690-12. If we are to see a reversal lower then this support must break. If seen look for a move all the way back to the 1.1603 corrective low. A bounce is possible from here. Breach extends further to 1.1538-52... and eventually 1.1458-74...
14th May: With the strength seen I feel there is risk for the pullback to reach 1.1955-94 at least and from there I feel the risk of additional loss is possible. Back below 1.1603 would confirm.
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