DAILY REVIEW 25 Apr 2014
EU: The Daily candle is a small spread (51pips) bull hammer closing off the high on average vol<1day. The candle close and volume suggests more downside. Levels of interest: Demand: short term: 1.3785, 1.3767 – 1.3760, 1.3735 – 1.3745  Supply:  short-term: 1.3966 The Asian range is 1.3826 – 1.3837 currently. Nothing has changed and price is still well within the 2 pivots 1.3785 and 1.3862. SM created a bear trap in H1 yesterday and price has yet to take out shorts from that "upthrust" close at 1.3830 yesterday. SM is likely to stop out any remaining short positions to the 1.3855 or the 1.3862 pivot again before reversing back down to break below 1.3785. Any break and close above the 1.3862 level will likely see a retest of the pivot at 1.3905.
EU long levels:  1.3775, 1.3765, 1.3750 EU short levels: 1.3855, 1.3862, 1.3900, 1.400, 1.4050

GU: The Daily candle is a small spread (41pips) bull closing near the high on average vol<1day. The candle close and volume suggests more upside. 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- 1.6697, 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 1.6797 – 1.6810 currently. Traders that were short at the H4 bear trap (1.6783) are already likely mostly stopped out. SM is likely to test the day high at 1.6810 level before reversing back down. However, a break and close above 1.66810 will likely result in a retest of the 1.6841 pivot. 
GU long levels:  1.6760, 1.6740, 1.6720 GU short levels: 1.6810, 1.6841, 1.6860, 1.6875, 1.7000, 1.7030

Posted at 3.15 am EST