DAILY REVIEW 10 Sep 2013
EU: The Daily candle is a normal spread (119pips) bull closing just off the high on low vol<2days. Technicals: 23.6% Fib @ 1.3290 (price may bounce here a little as some Fib traders TP and some go long on the break upwards) 1.3311 breakout level confluence with 1.3300 key level. Previous day highs 1.3338, key level 1.3400 Although volume suggests no buying interest, the close suggests more upside. Price has taken out the entire range of last week, then broken and closed above the 1.3254 30 Aug high level in spite of the background. The weekly candle also had no selling interest. Now that the smoke is cleared, SM is likely to make another push to the upside. The background situation of QE taper and Syria remains so it will be good to be mindful of it when price reaches supply/manipulation levels. As I am writing, price is close to yesterday’s high, SM is likely to test, spike the high and create selling pressure to at least Asia low to remove weak longs, probably even to short term demand at 1.3211 – 1.3220 level confluence with M15 ema200 @ 1.3211 before reversing back up. 
EU long levels:   1.3250, 1.3211-20, 1.3200  EU short levels:  1.3311, 1.3338, 1.3375, 1.3400, 1.3425, 1.3451


GU: The Daily candle is a normal spread (119pips) bull closing 1/4 off the high on low vol<2days with bearish volume divergence. The close and vol suggest no demand but the spread is too large for a no demand here, it is likely to retest the 1.5780 and potentially also the daily supply level @ 1.5800 – 1.5820 Price is close enough to large orders at the next supply levels but we are already at a current daily supply level and we have daily bearish volume divergence so I'll be looking for a short setup as well.  As of now, SM will be likely to fade the weak longs by creating selling pressure before reversing upwards.  
GU long levels: 1.5680, 1.5665, 1.5640  GU short levels:  1.5731, 1.5750, 1.5780, 1.5800, 1.5820