DAILY REVIEW 21 Jan 2014
EU: Weekly- the candle is a average spread (182pips) bear closing off the low on average vol<1 week. The candle close and vol suggest more downside. The Daily candle is a below average spread (60pips) bull small body spinning top closing about 1/3 off the high on low vol<12days. The candle close and volume suggests no buying interest however price yesterday tested the H4 breakout level (approx 1.3520 – 1.3530) and came within 7pips of the key level 1.3500. Levels of interest: Current H1 swing high 1.3648, Key level 1.3500 Short-term demand 1.3513, 1.3491, 1.3450 Short-term supply: 1.3640 (confluence with H4 ema200 @ 1.3635) H1 Fib 61.8% @ 1.3605 (confluence H1 ema200 @ 1.3600)  The Asian range is 1.3563 – 1.3560 currently. SM is likely to create buying pressure to test the 1.3567 level or higher before reversing to test yesterday’s low or stop hunt below the key level 1.3500. A H1 close below 1.3500 may mean more downside.  
EU long levels:  1.3507, 1.3490, 1.3450, 1.3405EU short levels: 1.3567, 1.3605, 1.3640, 1.3684, 1.3818

GU: Weekly- the candle is a below average spread (199pips) bear hammer closing on low vol<1week. The candle close and volume suggests more downside. The Daily candle is a small spread (57pips) bear small body spinning top closing >1/3 off the high on average vol<15days. The candle close and volume suggests no demand and is close enough to the daily supply level at the 1.6600 level to be considered a SM accumulation to retest the 1.6500 key level. Levels of interest: Short-term supply level 1.6450 – 1.6465, 1.6497 – 1.6520, 1.6597 – 1.6602 The Asian range is 1.6410 – 1.6445. Sm is likely to test the Asia low or lower to the 1.6410 level before reversing up to test the 1.6500 level. 
GU long levels:  1.6410, 1.6395, 1.6320, 1.6300, 1.6280 GU short levels:  1.6463, 1.6500, 1.6600

My apologies for yesterday as I was having some technical difficulties. Wish everyone good trading.