BIAS: I feel we have seen a triple three so losses should now develop
Resistance: 1.0006 1.0019 1.0044-55 1.0085-90
Support: 0.9971 0.9955 0.9935-40 0.9901-05
MAIN ANALYSIS: Yesterday was very frustrating… However, I feel we have come to a point where we need to see losses and yesterday's 1.0006 high appears final. Therefore we should see losses below 0.9955 that should extend losses towards the 0.9901 low. I suspect around this area we shall see a pullback before losses resume that should reach the general 0.9884 - 0.9851 area (the Wave ii has not yet been confirmed.) This will require a pullback - but not sure of the depth until the Wave ii is confirmed. However, as far as I can see we shouldn't see much below 0.9860 - but I'd allow for the 0.9770-0.9820 area approx.
COUNTER ANALYSIS: A direct break above 1.0010-19 would surprise - and if this is confirmed with EURUSD breaking below 1.0620, then we should be looking for stronger gains. I would not then be surprised to see an approach to the 1.0122-36 peaks.
Resistance: 1.0006 1.0019 1.0044-55 1.0085-90
Support: 0.9971 0.9955 0.9935-40 0.9901-05
MAIN ANALYSIS: Yesterday was very frustrating… However, I feel we have come to a point where we need to see losses and yesterday's 1.0006 high appears final. Therefore we should see losses below 0.9955 that should extend losses towards the 0.9901 low. I suspect around this area we shall see a pullback before losses resume that should reach the general 0.9884 - 0.9851 area (the Wave ii has not yet been confirmed.) This will require a pullback - but not sure of the depth until the Wave ii is confirmed. However, as far as I can see we shouldn't see much below 0.9860 - but I'd allow for the 0.9770-0.9820 area approx.
COUNTER ANALYSIS: A direct break above 1.0010-19 would surprise - and if this is confirmed with EURUSD breaking below 1.0620, then we should be looking for stronger gains. I would not then be surprised to see an approach to the 1.0122-36 peaks.