BIAS: The break above 1.3145 should see gains extend to 1.3195-1.3220 today
Resistance: 1.3160 1.3177-80 1.3195 1.3220
Support: 1.3130 1.3110-21 1.3089 1.3066
MAIN ANALYSIS: With the 1.3145 high broken the 1.3110 low is confirmed as the intermediate low. I suspect we have quite a way to go but this could be choppy. At this point I feel we should see gains extend to 1.3177 en route to the 1.3195-1.3220 area. Look for bearish reversal indications for a correction lower. Observe the 1.3160 area as possible support. We should then see further gains.
COUNTER ANALYSIS: A break below 1.3130 could risk a retest of 1.3110. Still keep in mind the 1.3089 target I had suggested before. Only below there would risk slippage to 1.3066 at least and note the 1.3045 projections also. If I have this totally wrong then the next downside targets are at 1.3003-28.
MEDIUM TERM ANALYSIS:
4th September: We should have seen the low at 1.3110 and thus we should expect a correction up to 1.3195-1.3220 initially but overall I would not be surprised further gains later. In the larger picture also note the higher 1.3236 and 1.3288 resistance areas.
Back below 1.3089 and 1.3110 would risk follow-through lower.