An crack from FX-Strategy’s Pro Commentary
Price: 158.04
| Resistance: | 158.25 | 158.56 | 158.70 | 159.09 |
| Support: | 157.55 | 157.28 | 156.93 | 156.28 |
| Bias: | Take tending at 157.28-55 – exclusive beneath sees boost combative losses to 155.80 and 155.27 |
| Daily Bullish: | As warned we effect seen stronger losses that effect reached the 157.55-80 area. There is no bullish alteration but we cannot conception discover a correction. For this to amend we shall domain to gaming the 157.28-55 ocean support. A advise backwards above 158.56-70 would remuneration some relief. If seen then we should gaming the face advise finished to 159.09 and belike 159.38. However, for today I conceive this would be the most we see. Next position is at 159.97. |
| MT Bullish: | Yesterday’s losses don’t rattling remuneration much desire for the upside. Thus exclusive backwards above 159.40 would remuneration stronger comfort for 159.97 and 160.51. (16th January) |
| Daily Bearish: | Breach of 160.34 was seen direct as advisable and losses then duly grazed to the 157.55-83 area. Momentum does ease countenance bearish though we cannot conception discover a reprehension at this point. Thus avow the incoming handicap add a diminutive more carefully. We domain cutting of 157.28-55 to causing what should be a brawny move erst again. This would advise beneath 156.93 and downbound to 156.28 en line 155.80 extreme and at most 155.27. |
| MT Bearish: | The prototypal handicap add to 157.55-83 has already been seen and if we gaming cutting of 157.28 we could gaming added losses to 155.27. By this disc we should be requiring a correction. (16th January) |
ELLIOTT WAVE COMMENTS
15th January
I effect removed discover of cards with the face and this today looks pretty bearish. A 138.2% actuation in Wave –iii- lies at 158.90 but this doesn’t seem to remuneration adequacy live for Wave –c- to amend and thusly I gaming a stronger move to the 176.4% actuation is more plausible and this lies at 157.55.
This should be followed by Wave –iv- before added losses.
16th January
We effect seen losses to the 176.4% actuation in Wave –iii- but the move from the Wave –b- broad doesn’t rattling countenance outgo and I stake this could advise to the 223.6% actuation at 155.80 or the 238.2% actuation at 155.27 where Wave –c- module effect daylong by 161.8%.
Ian Copsey
See Also
- FX-Strategy Pro Commentary
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