DAILY REVIEW 7 Mar 2014
My apologies that I forgot to post my review yesterday. I’ll give all a special today with 2 charts.
EU: The Daily candle is a large spread (153pips) bull closing on very high vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: short term-  1.3795 – 1.3805, 1.3770, 1.3750, 1.3725 The Asian range is 1.3854 – 1.3867 currently. As written, the bear trap was finally sprung yesterday on Eur news and all shorts have been completely taken out of the market. NFP news tonight so I have painted a few scenarios today.
EU long levels: 1.3800, 1.3770, 1.3750, 1.3725

GU: The Daily candle is a normal spread (92pips) bull small body spinning top closing on high vol>3days. The candle close and volume suggests another bear trap.  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- 1.6712 – 1.6700, 1.6682 – 1.6670, 1.6650 – 1.6638 The Asian range is 1.6726 – 1.6744 currently. As previously written, SM did spring the bear trap and has removed supply and is re-accumulating. SM will likely distribute from the high and re-accumulate orders on NFP news. Nothing really has changed. Please see chart.
GU long levels:  1.6712 – 1.6700, 1.6682 – 1.6670, 1.6650 – 1.6638 GU short levels:   1.6823, 1.6835, 1.6860, 1.7000, 1.7030

Posted at 1.33 am EST