DAILY REVIEW 26 Nov 2013
EU: The Daily candle is a below average spread (70pips) bear closing 1/3 off the low on low  vol<4days. The candle close and volume suggests no selling pressure. Most analysts’ platforms still show an increase in net short positions. Price is still within TR1: 1.3498 – 1.3578 with the Asian range 1.3514 – 1.3540 SM is likely to create buying pressure to test yesterday’s or Friday’s high to induce longs before reversing downwards to fade the weak longs then reverse back upward. 
EU long levels:  1.3559 (if price breaks and closes above 1.3578 during London and retests), 1.3537, 1.3515, 13500 EU short levels:  1.3578, 1.3695


GU: The Daily candle is a normal spread (107pips) bear closing just off the low on low vol<6days. The candle close does suggest some downside but the volume suggests that this move was a SM fade to remove weak longs.  The Asian range is 1.6144 – 1.6191 SM is likely to create buying pressure to test the 1.6209 Asia breakout level before reversing downward to retest yesterday’s low and reload inventory, before reversing upwards.
GU long levels:  1.6144, 1.6133, 1.6102  GU short levels: 1.6239 (short term only), 1.6255, 1.6290 – 1.6300, 1.6321, 1.6353, 1.6380