Price: 1.1279

Bias: I look for gains to extend to 1.1348 at least but this may stall the first recovery

Daily Bullish:
Losses stalled between the two support levels identified at 1.1180 and 1.1216 and given the bullish divergence I feel we have seen the intermediate low and thus we are due a pullback higher. While 1.1250 supports we should see gains extend above 1.1300 to reach the 1.1348 area which I feel will provide a barrier for a correction. Any direct breach of 1.1348 would extend gains to 1.1369-83 at least and then we need note resistance at 1.1426-46 and 1.1482-00.

MT Bullish:
26th May: While we saw a marginally lower low than anticipated I feel that we should now see a correction higher that could reach as far as 1.1446 and probably 1.1482-00.

Daily Bearish:
I feel the downside for now will be for corrections only. There is resistance at 1.1348 and this could cause a pullback towards the 1.1280-00 area but this may well hold. Thus only below 1.1280 and also 1.1250 would cause a move back towards the 1.1186 low. Any breach would trigger follow-through to 1.1126 but take care there. Also note support at 1.1060-99.

MT Bearish:
26th May: While I still feel the minimum target is at 1.1025 and probably lower I feel we may just get a better selling area around 1.1482-00.

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