Bias: Any attempts at corrections higher keep failing and this should see 1.0931-50 caps for losses to 1.0730-43
There is just no way price is generating any sustainable reversal and with momentum still bearish I can't see this happening today either. There is resistance at 1.0931-50 and I feel this will cap. Thus, any stronger bullish stance is going to require a break above this area and preferably above 1.0977. If seen it should extend gains back to 1.1010 and 1.1030-35 at least. Also take note of the corrective highs at 1.1080-1.1113.
24th July: We can lower the reversal point to 1.1120 but I feel we shall find a low in the 1.0730-83 area and we should be looking for bullish reversal patterns here.
Losses keep coming and yesterday saw a drop to 1.0840. However, I see resistance at 1.0931-50 and look for this to cap for losses back down to 1.0840 and while there may be a brief pullback I'd expect this to extend down to 1.0783 at least and potentially 1.0730-43. (Max 1.0703) From here I expect a reversal higher.
24th July: I feel in the medium term we'll still see the 1.0730-83 area but beyond that I am cautious and feel we must look for break of 1.0703 to suggest losses extending further.
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