DAILY REVIEW 21 Apr 2014
EU: Weekly- the candle is a small spread (75pips) bear spinning top closing on low vol<15weeks. The candle close and volume suggests upward retracement and followed by more downside. The Daily candle is a small spread (18pips) bear closing at the low on very low vol<262days. The candle close and volume suggests no selling pressure. Levels of interest: Demand: short term: 1.3785 (Fib38.2% confluence) , 1.3767 – 1.3760 (Fib 50% confluence) Supply:  short-term: 1.3966 The Asian range is 1.3805 – 1.3824 The last trading day was Good Friday and had neither range nor volume as expected. SM is likely to retest the 1.3862 level before reversing to retest Friday's lows or lower.
EU long levels:  1.3785, 1.3765 EU short levels: 1.3850, 1.3862, 1.3900, 1.400, 1.4050

GU: weekly - the candle is a near normal (185pips) bull spinning top closing about 1/3 off the high on low vol<15weeks with weekly volume divergence. The candle close and volume suggests more upside followed by a potential reversal. The Daily candle is a small spread (26pips) bear closing off the low on low vol<600days. The candle close and volume suggests no selling pressure and more upside. Levels of interest: Short-term sWeekly/Daily supply level 1.6835 – 1.6845, 1.6860 – 1.6875, 1.6991 – 1.7015, 1.7025 – 1.7045 Demand:  short-term- 1.6697, 1.6673 (Fib50% confluence), 1.6640 (Fib61.8% confluence), 1.6600, 1.6548 (Friday low), 1.6533 (confluence Daily Fib50%), 1.6525 – 1.6515, 1.6500 – 1.6490 The Asian range is 1.6773 – 1.6811. SM is likely to retest the 1.6823 breakout level or higher to the 1.6840 pivot before reversing downward. 
GU long levels:  1.6800, 1.6740, 1.6720 GU short levels:  1.6835, 1.6860, 1.7000, 1.7030

Posted at 5.17 am EST