DAILY REVIEW 27 Mar 2014
EU: The Daily candle is a small spread (51pips) bear closing off the low on high vol>16days. The candle close and volume suggests selling. Levels of interest: Demand: short term-  1.3775, 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 1.3777 – 1.3796 currently. Price is still well inside Tuesday’s range but the re-accumulation campaign looks to have been completed at the 1.3775 level and if it holds, SM is likely to blow past the 1.3800 key level to test the 1.3825 or even the 1.3840 to induce longs before reversing to fade them back to 1.3812 – 1.3800 to reload and resume the northbound journey. A break below 1.3750 will likely see the 1.3700 level tested and the possible resumption northward.
EU long levels:  1.3775, 1.3750, 1.3700, 1.3650 EU short levels: 1.3825, 1.3850, 1.400, 1.4050

GU: The Daily candle is a near-normal spread (87pips) bull wide-bodied spinning top on low vol<1day. The candle close and volume suggests SM will fade before recommencing the move. 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- 1.6533 (confluence Daily Fib50%), 1.6525 – 1.6515, 1.6500 – 1.6490 The Asian range is 1.6568 – 1.6585 currently. Orders were stacked and SM resumed the expected northbound journey after a reload at the key 1.500 level. SM is likely to induce shorts to remove weak longs to either the 1.6544 – 1.6534 level or lower to the 1.6525 level before reversing to continue the northbound move.  
GU long levels:  1.6534, 1.6525, 1.6495 GU short levels:  1.6823, 1.6835, 1.6860, 1.7000, 1.7030

Posted at 2.15 am EST, updated 3.55am EST (typos - apologies)