Price:   1.0292

Bias:  Below yesterday's 1.0265 should extend losses to 1.0160-98 at least

Daily Bullish:

Yesterday's pullback was very weak and I still feel the downside is going to extend further with the 1.0160-98 area being where we should be looking for a short term bounce for a correction. Only an earlier break back above 1.0324 would resurrect any chance of seeing a deeper correction higher back to yesterday's 1.0374 high and maximum 1.0408-33. Also note resistance at 1.0462-80.

MT Bullish:

13th October:

Daily Bearish: 

Price has begun the day looking weak and a break below yesterday's 1.0265 low would trigger follow-through below 1.0231 to 1.0198 and possibly 1.0160. However, take care in this support area as I feel it could cause a correction higher. Only breach would maintain the bearish momentum for 1.0086-99. Also note support at 0.9981.

MT Bearish:

13th October:     Losses have been solid and while 1.0434-54 caps I can still see potential for 1.0160-98… However, I would look for this to generate a pullback higher…

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.