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INTRADAY CHART
BIAS: We need the 0.9255-67 area to remain supportive and for gains to push back above 0.9320…
MAIN ANALYSIS: Losses came sharply but remained above the deeper 0.9255 retracement level. There is still a minor risk of seeing 0.9255 but with a shallow inverse head & shoulders we should see some gains and probably trigger a firmer rally. To confirm this we shall need a break above the 0.9320 area. It won't rule out corrections so take care. However, overall we should now see more positive progress back above 0.9340-45 and 0.9361 to approach the 0.9377-90 area...
COUNTER ANALYSIS: Only below 0.9250 would confuse and risk a move back towards the 0.9205 low…
For more information concerning the support and resistance and medium term analysis please see the attached PDF file.
Good trading
Ian Copsey
BIAS: We need the 0.9255-67 area to remain supportive and for gains to push back above 0.9320…
MAIN ANALYSIS: Losses came sharply but remained above the deeper 0.9255 retracement level. There is still a minor risk of seeing 0.9255 but with a shallow inverse head & shoulders we should see some gains and probably trigger a firmer rally. To confirm this we shall need a break above the 0.9320 area. It won't rule out corrections so take care. However, overall we should now see more positive progress back above 0.9340-45 and 0.9361 to approach the 0.9377-90 area...
COUNTER ANALYSIS: Only below 0.9250 would confuse and risk a move back towards the 0.9205 low…
For more information concerning the support and resistance and medium term analysis please see the attached PDF file.
Good trading
Ian Copsey
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