Price:   1.0740

Bias:     While the 1.0665-94 area holds I am more in favor of the uptrend resuming

Daily Bullish:

Price stalled at the 1.0694 support to the pip and with an hourly bullish divergence I feel we shall see the uptrend resume. The first attempt may well stall at the 1.0770-98 area ad cause a correction. However, after a correction I'd look for the rally to extend above 1.0800 and 1.0829-67 en route the 1.0897 high at least. Note further resistance at 1.0955 and 1.1017.

MT Bullish:

26th February:          The 1.0668-94 area seems possible now and looks like a good area to look for more strategic buying levels. Back above 1.0897 targets 1.1017-32 minimum and potentially 1.1189.

Daily Bearish: 

With the reaction from the 1.0694 support on Friday I feel that the downside is probably over. Thus, only consider a stronger bearish stance on a break below 1.0665-94. Only if seen would it risk follow-through below 1.0608 and 1.0581 towards the 1.0497-14 support.

MT Bearish:

 22nd February:       While I look for a pullback to the 1.0646-65 area I do not expect any sustained losses at this point.

For access to my daily support & resistance levels please see the Daily Forecast page of my web site
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 available on the Daily Forecast page of my web site in the Trader Package review. (+235 pips)

width=500