Break above 1.3600 level extending gains from the 1.3420 low see scope for retest of the 1.3650, September high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.3800 | * | congestion | S1 | 1.3600 | * | congestion | |
R3 | 1.3750 | * | congestion | S2 | 1.3550/40 | ** | congestion, 1 Oct high | |
R2 | 1.3700 | * | figure, congestion | S3 | 1.3500 | * | figure | |
R1 | 1.3650 | * | Sep high | S4 | 1.3472 | * | 2 Oct low |
Asterisk denotes strength of level
06:00 GMT - Break above 1.3600 level extending gains from the 1.3420 low see scope for retest of the 1.3650, September high. Daily studies continue to strengthen and break here will see scope for extension to the 1.3700 level. However, gains are seen corrective of the losses from the August high and lower high sought for pullback later to retest the 1.3600 level. Below here will see scope for pullback to the strong support at the 1.3550/40 area and where break will return focus to the downside for return to the 1.3500 level and 1.3472 support.