Slobodan Drvenica
Windsor Brokers
Bounce off session low at 1.2789 was boosted by downbeat Canadian data (wholesale sales -1.2% in Sep vs 0.3% f/c), with fresh recovery eyeing session high at 1.2836 (the highest since 03 Nov).
Firm bullish structure on daily chart is supportive but the price shows strong hesitation at pivotal 1.2820 barrier (Fibo 61.8% of 1.2914/1.2667 pullback). Close above here is needed to signal continuation, however, overbought slow stochastic on daily chart is generating negative signal and warning of pullback.
Bullish setup favors dip-buying above daily Tenkan-sen (1.2751).
Res: 1.2820; 1.2836; 1.2855; 1.2914
Sup: 1.2789; 1.2751; 1.2713; 1.2683
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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