in the 1.4785/65 zone is held, immediate upside potential will be intact. A break above 1.4915 will provoke a test of the 1.4935/40 peak and sustain acceleration to 1.4990, the 1.5045.
05 Feb. 96 A test of the 1.4735/15 support band is possible. It is a result of sharp reversal from the 1.4915 area. To ease corrective pressure, a break back above the 1.4835/50 band is needed. The market will be left vulnerable to a deeper correction if the 1.4835/15 band is not held.
06 Feb. 96 A deeper sell off may be prevented if the USD/DEM correction holds over 1.4580/1.4605 area. Immediate downward pressure will be alleviated by a break back above 1.4740/50. A rally through 1.4785 will confirm a resumption of the uptrend towards 1.4850,1.4915.
07 Feb. 96 USD/DEM sustains the end of the corrective phase and the resumption of the uptrend towards 1.4850, 1.4915. 1.4605 has been held. There is a potential for failure at 1.4785.
08 Feb. 96 USD/DEM broke above the 1.4755/85 band and continues its stady advance. Near term support is now at 1.4745/35. The end of the corrective phase is confirmed with 1.4910/15 initial target.
12 Feb. 96 There is a risk of another downside leg towards pivotal support in the 1.4605/1.4580 band. A break below 1.4710 may trigger such a drop. There will be light resistance for rallies at 1.4785. A recovery beyond 1.4825 will indicate a resumption of the uptrend to 1.4955. Now USD/DEM is still entrenched in its consolidation range.
19 Feb. 96 The market is vulnerable to a much deeper retracement towards 1.4280/65. Interim support is centred on the 1.4385/75 band.
22 Feb. 96 USD/DEM remains under short term downward pressure as long as the 1.4610/35 band caps. Some consolidation within a 1.4605-1.4405 range is possible ahead of a retest of the downside.
26 Feb. 96 USD/DEM is pinned within its consolidation range as long as the 1.4605/35 zone caps. Overall pressure is on the downside.
27 Feb. 96 USD/DEM has held well on the downside in the 1.4430/05 area over the last few days and continues to oscillate within its narrowing range with parameters to day of 1.4575 — 1.4430. With a break above 1.4575/85 there is now room for a test of upper resistance levels.
01 Mar. 96 USD/DEM has achieved the initial target area of 1.4745/75 and maintained upward pressure. A break of this zone will lead to some consolidation with 1.4825 the next objective. The pivotal 1.4650/95 band will give good support to dips.
о to oscillate
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