INTRADAY CHART
BIAS: While 0.9598-15 caps we should see losses to 0.9535-50
Resistance: 0.9598 0.9612 0.9620-25 0.9635
Support: 0.9585 0.9567 0.9550 0.9535
MAIN ANALYSIS: While the lower of the 0.9679-87 targets initially capped, price decided to retest the higher. From there we have seen losses down to 0.9573. While 0.9595-98 caps there is still risk of one more dip to the 0.9567 target for a correction back to around 0.9612. From here losses should be seen to below 0.9567 low and then to the 0.9535-50 area. There is a deeper projection that should be noted - at 0.9514-17. Thus observe for bullish reversal indications from there.
NOTE: there is a minor risk that the 0.9567 target will not be seen and thus the pullback higher could reach the 0.9612-20 area. This would probably limit the downside to closer around 0.9550.
COUNTER ANALYSIS: Only below 0.9514 would risk losses extending to 0.9486-0.9503… Also note the deeper 0.9449 retracement area.
Only directly back above 0.9625 would risk a move back to 0.9635 at least … and if this breaks then up to 0.9670-88.
MEDIUM TERM ANALYSIS:
10th November: I am feeling more confident of the structure now that EUR/USD has matched the same structure. This should see some swings over the coming few weeks. This should see losses now to 0.9517-50 minimum and could be lower to the 0.9450-90 area.
Only a break below 0.9359 would concern at this point...