Bias: The 92.64 support now needs to hold to see 93.74-84 before lower else direct losses will develop
Mainly a messy corrective structure developed yesterday but if the 92.64 support can hold on this decline this morning then there does still stand a chance that we'll see one more rally. If so then look for a retest of the 93.43 high, a pullback and then onto the 94.74-84 area. Allow for 94.00 but i won't expect any higher at this stage...
20th April: I feel we have probably seen the low at a much higher level than expected and thus we should be seeing more gains back to the 94.77 high and eventually I feel the 98.30 area may well be a target.
Two areas to look for: the 92.64 support early today. If that breaks then we'll see follow-through lower the 92.27 (max 92.02) area expected to support. If the 92.64 support holds as I feel it should then we'll see the 93.74-84 area (max 94.00) where we should look for bearish trade set ups.
20th March: I feel we saw a low at 91.59 and thus only back below 91.45-59 would trigger follow-through to 90.61-88 now.
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. (+110 pips)