DAILY REVIEW 11 Nov 2013
EU: Weekly: the candle is a below-average spread (252pips) bear wide-body spinning top closing ¼ off the low on above-average vol>13weeks. The candle close and volume suggests buying into the candle as price may be poised to retest the gap level of 1.3292 again. The Daily candle is a large spread (120pips) bear closing 2/3 off the low on very high vol<1day. The candle close and volume suggests buying but with price being in no man’s land, it is unlikely to just reverse and take off upwards. Levels of interest: Last Monday’s low @ 1.3441 daily 50%Fib @ 1.3467 (also last Wed Asia low) key level 1.3500 78.6%Fib @ 1.3259 Friday low 1.3317 and Weekly low 1.3294 Price opened with a small gap down and the Asian range is 1.3344 – 1.3366 SM is likely to create buying pressure to fade weak shorts before reversing to test Friday’s low and perhaps even the gap level of 1.3294
EU long levels: 1.3294, 1.3260 EU short levels:  1.3448, 1.3467, 1.3500, 1.3510


GU: Weekly- the candle is a below-average spread (202pips) bull closing ½ off the high on below-average vol <1week. The candle close and volume suggest selling and more downside. The Daily candle is a very large spread (149pips) bear closing 1/3 off the low on very high vol<1day. The close and volume suggest buying activity as price moved towards the daily demand level 1.5920 Price opened with a small gap down that has been closed. The Asian range is 1.5998 – 1.6020 SM is likely to create buying pressure to fade the weak shorts before reversing downwards.
GU long levels:  1.5975, 1.5956  GU short levels:  1.6055, 1.6082, 1.6105