Skip from the 1.0778 low seen Forex Market analysis solidifying drop from the 1.0976 high of a week ago to achieve the 1.0860 resistance. Recovering the last will restore upsid’
center and see come back to 1.0940 then the late range highs at 1.0970/85. Inability to hold the 1.0778 low will open 1.0711 low to retest.
Venturing higher to break the 1.1000 level and finish will see extension to retest the 1.1050, Sep high. Bolster now at 1.0940 then the 1.0900 level seen managing:
the bullish up-leg from the 1.0756, Dec low. Just underneath the 1.0900 level will debilitate and swing center to the drawback.
Settling once more from the 1.0168 high which keep the 1.0200 level out of range for the time being. Would require lift over the last to make room for retest of the 1.0240 (Jan 2015) and 1.0328 highs. Bolster now at 1.0107 and 1.0082 and break expected to see more profound pullback to the .9991 and .9959 backing.
Weight coming back to the drawback from the 118.88 high in the wake of following 38.2% of the drop from 123.56 high. Mishap beneath the 118.00 level see the 117.85 and 117.48 backing to look as break of the last will return center to the drawback for retest of the 117.00 level and 116.47 backing.For more Daily Forex market analysis check out another my post.