DAILY REVIEW 19 Jul 2013
EU weekly: bullish engulfing on very high vol closing 1/3 off the high.  Daily narrow-spread bear hammer closing near 2/3 off the low on average  vol <36days. Note that SM has already faded the entire range of Tue. The candle close and very low vol suggests more upside. As I write, the Asian range has already broken yesterday's high. The likely SM move will be to continue the buying pressure and then reverse to fade weak longs before moving up again. The likely levels for the weak longs trap move will be the previous rejection level of 1.3150. If price pushes to 1.3175/1.3205 with vol divergence during London, I will consider the short on min H1 vol divergence, it it happens after a NY reversal from down to up, I will leave it as it will likely rise further and hopefully hold the long if I am in it.

EU long levels: 1.3110, 1.3090, 1.3080  EU short levels: 1.3150, 1.3175, 1.3205

GU weekly bull closing 1/3 off high on very high vol. Daily bull hammer closed just off high on no demand vol >2days. Price is approaching supply level 1.5280 - 1.5300. Yesterday's candle is still an inside day.  The close and low vol indicates possible no demand but a look at the 2 day chart indicates possible strength to test supply.A breakout of an inside day usually has power to move rapidly. The likely Smart Money play would be sell pressure before going back up to break through to test supply.

GU long levels: 1.5200 GU short levels: 1.5267, 1.5280, 1.5300