DAILY REVIEW 10 Feb 2014
EU: Weekly:- the candle is a below-average spread (166pips) bull closing just off the high on high vol<1week. The candle close and volume suggest more upside. The Daily candle is a normal spread (91pips) bull closing just off the high on low vol<2days. The candle close and volume suggests more upside. Levels of interest: Demand: short term: 1.3600 – 1.3605 (confluence H1 ema200 and Frisay Asia breakout), 1.3590 – 1.3584 (confluence M15 ema200), 1.3559 – 1.3550 Short term supply: 1.3660 – 1.3671. The Asian range is 1.3614 – 1.3643. As expected, SM moved north on weak NFP numbers and is on its way back up. SM is likely to test the short term supply level to 1.3660 or higher before reversing to fade weak longs to Asia low or lower and then reverse back upwards after restocking new inventory. 
EU long levels:  1.3605, 1.3585, 1.3559 EU short levels: 1.3660, 1.3800

GU: Weekly- the candle is a close to average spread (188pips) bear dragon fly doji closing on average vol<1week. The candle close suggests buying but the location suggests some possible mark down before reversing back up. The Daily candle is a normal spread (116pips) bull closing off the high on low vol<7days. The candle close suggests more upside and the volume suggests no buying pressure or technically a “no demand”. Levels of interest: Short-term supply level 1.6487 – 1.6500 (confluence:  Fib 50% @ 1.6487), 1.6550 – 1.6560, 1.6600 – 1.6625, 1.6650 – 1.6667 Demand:  short-term 1.6354 (confluence Fib 23.6% and FrIday Asia breakout)), 1.6330 – 1.6320, 1.6300 key level
The Asian range is 1.6309 – 1.6426. As expected SM moved prices northward on NFP numbers and are now retracing. SM is likely to maintain selling pressure and induce more shorts toward the Friday Asia breakout level or lower to fade weak longs before reversing and resuming the north bound move.
GU long levels:  1.6354, 1.6330, 1.6300 GU short levels:  1.6360, 1.6487, 1.6550, 1.6625, 1.6650, 1.6667
Posted at 5.15 am EST