DAILY REVIEW 04 Dec 2013
EU: The Daily candle is a normal spread (90pips) bull wide-bodied spinning top closing 1/4 off the high on average vol<1days. The candle close and volume suggests further upside. Levels of interest (unchanged):  Daily Fib 61.8% @ 1.3622 Previous breakout level 1.3660 Daily Fib 78.6% @ 1.3715 confluence with H4 breakout level 1.3735, Daily Fib88.6% @ 1.3770 confluence with H4 supply level 1.3771 – 1.3790 Yesterday, price reversed the entire down move as anticipated. The Asian range is 1.3581 – 1.3597 currently. The daily spinning top is likely displayed to seduce more short orders.  SM will likely create selling pressure to fade the weak longs possibly to around the 1.3556 level before reversing upwards.
EU long levels:  1.3556, 1.3530, 1.3504 EU short levels:  1.3625, 1.3700, 1.3723, 1.3780 


GU: The Daily candle is a normal spread (90pips) bull upthrust closing on low vol<2days. The candle close and volume suggests selling into the candle. 
The Asian range is 1.6377 – 1.6396 currently. As anticipated, SM did stophunt the 1.6423 level to 1.6435 before reverse downwards after taking out the weak shorts. Since SM did not retest the high of 1.6441 yesterday, some of the possibilities: 1)SM retests the 1.6367 level before reversing up again to retest the 1.6441 supply and higher 2)SM tests the 1.6452 level then reverses for a possible mid-week reversal.  
GU long levels:  1.6367, 1.6346, 1.6320, 1.6300, 1.6276, 1.6240, 1.6209 GU short levels: 1.6441, 1.6452, 1.6527