DAILY REVIEW 25 Mar 2014
EU: The Daily candle is a normal spread (115pips) bull spinning top closing on low vol>1day. The candle close and volume suggests no buying pressure. 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 1.3825 – 1.3840 currently. Background: Price shot up with no good reason in thin markets yesterday. The forthcoming UK and US news coupled with the EU likely to announce further sanctions against Russia during the ongoing G7 meeting may “strengthen” the USD  via a cocktail of economics and risk aversion, possibly giving SM the fuel they need to dive down again to take profit and reverse long. SM is likely to induce longs at Asia session high, fade them by reversing downward to the 1.3775 or lower to perhaps complete the re-accumulation campaign and then move back north. 
EU long levels: 1.3775, 1.3750, 1.3700, 1.3650 EU short levels: 1.3878, 1.400, 1.4050

GU: The Daily candle is a below average spread (70pips) bull closing ½ off the high on low vol>1day. The candle close and volume suggests selling. 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 1.6485 – 1.6501 currently. Prices followed EU upward in thin markets yesterday below coming back down. SM is likely to maintain selling pressure to 1.6467 or lower before reversing back upwards. 
GU long levels:  1.6467, 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 3.45 am EST