The peak at 114.50 has set an end of the whole rise from 108.10 and the outlook is already bearish, for a slide towards 112.80, en route to 111.75. On the senior frames current downtrend should target 108.10 and 106.80.
Yesterday's dip to 1.2810 should be considered a completion of the whole slide from 1.3025 and my outlook here is bullish, for a break through 1.2920 crucial high, towards 1.3050 resistance. Initial intraday support lies at 1.2860.
Yesterday's break through 1.2920 confirms, that a low is in place at 1.2810 and my outlook remains bullish, for a rise towards 1.3050 area. Initial intraday support lies at 1.2900.
The impulsive rise broke through 1.3050 resistance and the bias remains positive, for a violation of 1.3130 area, towards 1.3260 zone. Key support is projected at 1.3030.
Today's break through 1.1490 resistance confirms the positive bias, for a test of 1.1550, en route to 1.1610 area. Key intraday support lies at 1.1480.
The recent reversal at 1.1582 signals a slight bearish bias, for a test of 1.1490 support area. Current slide should be considered corrective on the senior frames, preceding another leg upwards, to 1.1720 area.
The intraday bias is still bearish, for a slide towards 1.1480 support area. The latter should provide a reliable base for a renewal of the general uptrend, towards 1.1720. Key intraday resistance lies at 1.1550.
Yesterday's precise test at 1.1480 has finalized the consolidation pattern below 1.1580 and the uptrend was renewed, breaking beyond 1.1610 hurdle. The bias remain bullish above 1.1580, for a rise towards 1.1720. Crucial on the downside is 1.1480 low.
The downtrend remains absolutely intact and a break through 110.30 support should challenge directly 109.30 dynamic projection. Minor intraday resistance lies at 111.50.
My outlook remains positive, for a violation of 1.3050 area, towards 1.3090 intraday resistance. The inner structure of the rise from 1.2930 is far from an impulsive one, so one should pay close attention of the dynamic support at 1.2990, as an eventual breach of the later will signal a reversal of the bias.
The recent peak at 1.3082 should be considered a finale of the consolidation rebound above 1.2930 and my outlook is bearish, for a break through 1.3000, towards 1.2860.
