Resistance 3: 1.9820

Resistance 2: 1.9750

Resistance 1: 1.9720/30

Latest New York: 1.9683

Support 1: 1.9650/60

Support 2: 1.9600

Support 3: 1.9550

Other Things to Watch/Open Trades/News

Currently flat—stopped out of short yesterday.

Rate has strong buy signal but top is at

resistance; possible late conflicting signal.

Rate under 1.9720 area important, major stops likely under the 1.9600 handle; likely to be challenged soon but given conditions a bounce is coming first.

Closing under the 1.9600 the next 24

hours likely set the stage for a return to 2008 lows near-term.

Upside is limited in my view but ranges can be wide as evidenced by the past few

days of trade. Sell rallies if not short; buying dips dangerous in my view.

Drop to under the MA’s very important in my view. Long selling wick makes sell

side attractive for further losses. Need down bars with higher volume to confirm

Overnight data unfriendly with more to come, Some pressure from EURO also.

Data due Wednesday All times EASTERN (-5 GMT)

Tentative GBP Nationwide House Prices m/m -0.5% -0.6%

Analysis by: written by Jason Alan Jankovsky


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