bottomed exactly at the best support for today at 1.1835/25 as we become oversold. There is likely to be a bounce from in to the end of the week. Initially we target 1.1875/85 then first resistance at 1.1925/35. A high for the day is likely if tested today.
Try longs at 1.1835/25 with stops below 1.1790. A break lower is a sell signal initially targeting 1.1765/55 then 1.1700/1.1690.
holding first support at 1.2660/50 re-targets 1.2690/1.2700. A high for the day likely again today. Further gains test resistance at the 2 week high at 1.2740/50.
A break higher this week is a buy signal targeting 1.2840/60.
Holding below 1.2630 risks a slide to 1.260, perhaps as far as 1.2570/60.
- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral
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