| Resistance: | 1.3135 | 1.3168 | 1.3183-97 | 1.3221 |
| Support: | 1.3095 | 1.3055-74 | 1.3035 | 1.3014 |
BIAS: While 1.3074 (max 1.3055) supports I look for a move above 1.3183-97 to 1.3247-62
MAIN ANALYSIS: We didn't get the earlier correction lower yesterday but more direct gains that stalled at the low end of the 1.3183-97 resistance . This has clarified the structure a lot better and should now see the 1.3055-74 area (and I favor 1.3074) support for a renewed attack on the 1.3197 high and then to the 1.3247-62 area - favor the higher but take care. This projection should trigger 150-200 points lower in a correction.
COUNTER ANALYSIS: Only a break below 1.3050 will cause concern and risk slippage back to the 1.2985 pivot support. If that breaks then expect a retest of the 1.2930 low.
For more information regarding the support & resistance please see the attached PDF file.
Good trading
Ian Copsey
HARMONIC ELLIOTT WAVE
