Today's Support and Resistance Levels:
R3: 142.89
R2: 142.54
R1: 142.41
Current Spot: 142.14
S1: 141.67
S2: 141.27
S3: 140.91
Technical Summary:
FED was fiddling with the Market yesterday, which produced a short term hick up. However, as support at 140.91 stayed unbroken we knew, that the uptrend was still intact and FED's hick up produced a minor new high at 142.89. Short term I would like to see minor resistance at 142.41 protect the upside for a break below 141.86 and ideally a break just below 140.91 confirming that a top is in place at 142.89. That said, we will have to stay open minded for a possible new high above 142.89 as long as important support at 140.91 stays unbroken.
Today's Support and Resistance Levels:
R3: 1.6808
R2: 1.6750
R1: 1.6706
Current Spot: 1.6693
S1: 1.6642
S2: 1.6608
S3: 1.6569
Technical Summary:
The FED hick up also produced a minor new high at 1.6807 here. The 1.6807 high was followed by a quick decline to 1.6569. That could have ended the leading diagonal, but it could also just be the minor wave iv and wave v now developing towards 1.6869 and once wave v is in place a new correction towards 1.6569 should be seen. No matter, which count is correct we should expect minor support at 1.6642 will protect the downside for a new rally past 1.6807. Then time will show which count is the correct count. Stay flexible...
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