DAILY REVIEW 21 Mar 2014
EU: The Daily candle is a normal spread (124pips) bear spinning top closing about 1/4 off the low on low vol<1day. The candle close and volume suggests commencement of buying. Levels of interest: Demand: short term-  1.3750, 1.3710 - 1.3692 (Daily dbr and confluence Fib 50%), 1.3654 - 1.3642 (confluence Fib 61.8%) Supply: 1.3966 The Asian range is 1.3775 – 1.3782. Background: The Crimea crisis continues. With the pricing in of the expected interest rate hike looking satisfied, SM is complete the reaccumulation and reverse back north after a test of the Asia lows or lower. At time of writing, SM has already reversed back up. SM has not retested the 1.3750 level and may reverse at around the 1/3810 - 1.3820 level before completing the campaign.
EU long levels: 1.3750, 1.3700, 1.3650 EU short levels: 1.3820, 1.3865, 1.400, 1.4050

GU: The Daily candle is a near-normal spread (88pips) bear  spinning top closing 1/3 off the low on low vol<2days. The candle close and volume suggests commencement of buying. Levels of interest: Weekly/Daily supply level 1.6835 – 1.6845, 1.6860 – 1.6875, 1.6991 – 1.7015, 1.7025 – 1.7045 Demand:  short-term- 1.6473 (confluence Fib 61.8%), 1.6432 - 1.6420, 1.6358 (confluence Fib78.6%), 1.6304 (confluence Fib 88.6%), 1.6268 - 1.6251 The Asian range is 1.6527 – 1.6554. At time of writing SM has induced shorts past yesterday's low and has since reversed upwards. SM is likely to continue upward to restest the 1.6575 - 1.6600 level before closing back around the 1.6557 level to close the week. 
GU long levels:  1.6473, 1.6425, 1.6358  GU short levels:  1.6575, 1.6625, 1.6775, 1.6823, 1.6835, 1.6860, 1.7000, 1.7030

Posted at 6.34 am EST