DAILY REVIEW 30 Apr 2014
EU: The Daily candle is a below average spread (73pips) bear closing on high vol>9days. The candle and volume suggests more downside. Levels of interest: Demand: short term: 1.3800, 1.3785 (Fib38.2% confluence) , 1.3767 – 1.3760 (Fib 50% confluence) SM moved prices yesterday up to 1.3878 and again falling just short of the gap close at 1.3884 and yesterday’s low has already been broken. SM is likely to fade weak shorts upto around the 1.3833 or even the 1.3842 level before maintaining the selling pressure to test the 1.3800 key level or lower before reversing back long. A break and close below 1.3778 will likely see more downside.
EU long levels: 1.3800, 1.3785, 1.3690 EU short levels:  1.3833, 1.3842, 1.3900, 1.3966, 1.400, 1.4050

GU: The Daily candle is a small spread (54pips) bull spinning top closing on low vol<1day. The candle close and volume suggests more downside. Levels of interest: Weekly/Daily supply level 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 Prices failed to make a new high yesterday and price is contained within the H4 TR 1.6762 – 1.6860 SM is likely to create buying pressure test yesterday’s high at 1.6845 or higher before reversing back down for the reversal.  
GU long levels:  1.6800, 1.6740, 1.6720 GU short levels: 1.6860, 1.6875, 1.7000, 1.7030

Posted at 00.54 am EST