DAILY FORECAST FOR EURUSD

Bias: We should continue to see losses close to the 1.3805 low

Loss of 1.4050-88 provided the desired impact with losses down into the 1.3918-42 support area. I feel the correction from there is complete and thus the greater risk is directly lower. I doubt we’ll get back to 1.4040 with the risk more bearish for loss of this morning’s 1.3961 low to extend losses to 1.3935. This may well cause a modest pullback but not above 1.3980. This still needs to move directly lower to 1.3860-69 – another modest pullback before a final move to around the 1.3805 low. It can be 10-20 pips either side but we should then see a stronger pullback.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day’s set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.

I shall be presenting a seminar in Hong Kong on Saturday 27th June at the Excelsior Hotel in Causeway Bay. Please see http://www.earlthorn.com/ for details.

Kind regards

Ian

The Brief Daily Forecaster.pdf