DAILY REVIEW 30 June 2014
EU: Weekly- the candle is a small spread (77pips) bull closing at the high on low vol<25weeks. The candle close and volume suggests more upside. The Daily candle is a small spread (41pips) bull closing at the high on low vol>5days. The candle close and volume suggests more upside. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3668, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. The very low volume last week would suggest a slow SM mark up is in progress. Prices opened with a very small gap down of about 6 pips which already been closed and prices have also tested past last week's high of 1.3650 SM is likely to create selling pressure to the 1.3600 level before reversing to test the 1.3668 level or higher.
EU long levels: 1.3600, 1.3563, 1.3575, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3668, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a small spread (98pips) bull pseudo hammer closing on low vol< The Daily candle is a below average spread (44pips) bull small body spinning top closing on low vol<4days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 Prices opened with a small 7 pips gap down that was rapidly closed. SM is likely to create selling pressure to retest the 1.7000 level before reversing back upward to retest the 1.7063 pivot.
GU long levels: 1.7000, 1.6970, 1.6952, 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 04.54 am EST
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Monday 30 June 2014
Friday 27 June 2014
DAILY REVIEW 27 June 2014
EU: The Daily candle is a below average spread (65pips) bear reverse upthrust closing nearly 2/3 off the low on low vol>4days. The candle close and volume suggests no buying pressure. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3668, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely to create selling pressure to remove weak longs to the 1.3600 level before reversing to test the 1.3668 level or higher before reversing down.
EU long levels: 1.3600, 1.3563, 1.3575, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3668, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (68pips) bull wide body spinning top closing on low vol>1days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 Even with the poor US data yesterday, prices only tested the 1.7000 key level and reversed. SM is likely to create selling pressure to retest the 1.7000 level before reversing back upward to retest the 1.7063 pivot.
GU long levels: 1.7000, 1.6970, 1.6952, 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 05.02 am EST
EU: The Daily candle is a below average spread (65pips) bear reverse upthrust closing nearly 2/3 off the low on low vol>4days. The candle close and volume suggests no buying pressure. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3668, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely to create selling pressure to remove weak longs to the 1.3600 level before reversing to test the 1.3668 level or higher before reversing down.
EU long levels: 1.3600, 1.3563, 1.3575, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3668, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (68pips) bull wide body spinning top closing on low vol>1days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 Even with the poor US data yesterday, prices only tested the 1.7000 key level and reversed. SM is likely to create selling pressure to retest the 1.7000 level before reversing back upward to retest the 1.7063 pivot.
GU long levels: 1.7000, 1.6970, 1.6952, 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 05.02 am EST
Thursday 26 June 2014
DAILY REVIEW 26 June 2014
EU: The Daily candle is a small spread (50pips) bull closing nearly 1/2 off the high on low vol<21days. The candle close and volume suggests no buying pressure. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3668, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices spiked to the 1.3650 level on the poor US data yesterday before retracing. SM is likely to create selling pressure to remove weak longs to the 1.3615 level before reversing to test the 1.3668 level or higher before reversing down.
EU long levels: 1.3615, 1.3600, 1.3563, 1.3575, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3668, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (51pips) bear "near-doji" closing 2/3 off the low on low vol<11days. The candle close and volume suggests more downside before reversing back up. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 Even with the poor US data yesterday, prices only tested the 1.7000 key level and reversed. SM is likely to continue selling pressure to retest the 1.6970 level or lower before reversing back upward to retest the 1.7000 key level.
GU long levels: 1.6970, 1.6952, 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 01.56 am EST
EU: The Daily candle is a small spread (50pips) bull closing nearly 1/2 off the high on low vol<21days. The candle close and volume suggests no buying pressure. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3668, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices spiked to the 1.3650 level on the poor US data yesterday before retracing. SM is likely to create selling pressure to remove weak longs to the 1.3615 level before reversing to test the 1.3668 level or higher before reversing down.
EU long levels: 1.3615, 1.3600, 1.3563, 1.3575, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3668, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (51pips) bear "near-doji" closing 2/3 off the low on low vol<11days. The candle close and volume suggests more downside before reversing back up. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 Even with the poor US data yesterday, prices only tested the 1.7000 key level and reversed. SM is likely to continue selling pressure to retest the 1.6970 level or lower before reversing back upward to retest the 1.7000 key level.
GU long levels: 1.6970, 1.6952, 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 01.56 am EST
Wednesday 25 June 2014
DAILY REVIEW 25 June 2014
EU: The Daily candle is a small spread (44pips) bull small body spinning top closing on low vol>2days. The candle close and volume suggests more lack of buying pressure. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3635, 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely to maintain buying pressure to test yesterday's high or the 1.3635 level before reversing down.
EU long levels: 1.3563, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3635, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (66pips) bear closing off the low on low vol>2days. The candle close and volume suggests more downside before reversing back up. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 SM is likely to continue selling pressure around the 1.6930 level or lower before reversing back upward.
GU long levels: 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 04.42 am EST
EU: The Daily candle is a small spread (44pips) bull small body spinning top closing on low vol>2days. The candle close and volume suggests more lack of buying pressure. Unchanged Levels of interest: Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3635, 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely to maintain buying pressure to test yesterday's high or the 1.3635 level before reversing down.
EU long levels: 1.3563, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3635, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (66pips) bear closing off the low on low vol>2days. The candle close and volume suggests more downside before reversing back up. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 SM is likely to continue selling pressure around the 1.6930 level or lower before reversing back upward.
GU long levels: 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 04.42 am EST
Tuesday 24 June 2014
DAILY REVIEW 24 June 2014
EU: The Daily candle is a small spread (39pips) bull small body spinning top closing on low vol<20days. The candle close and volume suggests more lack of buying pressure. Levels of interest (unchanged): Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3635, 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely to maintain buying pressure to test the 1.3635 level or higher before reversing back to test Friday's low 1.3563 or lower at 1.3535 and reversing back up.
EU long levels: 1.3563, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3635, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (47pips) bull pseudo upthrust closing on low vol<20days. The candle close and volume suggests more downside before reversing back up. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 SM is likely to continue selling pressure to remove weak longs to around the 1.6972 level or lower before reversing back northward.
GU long levels: 1.6972, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 07.51 am EST
EU: The Daily candle is a small spread (39pips) bull small body spinning top closing on low vol<20days. The candle close and volume suggests more lack of buying pressure. Levels of interest (unchanged): Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3635, 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely to maintain buying pressure to test the 1.3635 level or higher before reversing back to test Friday's low 1.3563 or lower at 1.3535 and reversing back up.
EU long levels: 1.3563, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3635, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (47pips) bull pseudo upthrust closing on low vol<20days. The candle close and volume suggests more downside before reversing back up. Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 SM is likely to continue selling pressure to remove weak longs to around the 1.6972 level or lower before reversing back northward.
GU long levels: 1.6972, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 07.51 am EST
Monday 23 June 2014
DAILY REVIEW 23 June 2014
EU: Weekly- the candle is a below average spread (130pips) bull large body spinning top closing on low vol<7weeks. The candle close and volume suggests a lack of buying interest. The Daily candle is a below average spread (69pips) bear small body spinning top closing on low vol<18days. The candle close and volume suggests more downside. Levels of interest (unchanged): Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3635, 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Note that price is still an intra-week candle from 3 weeks ago. SM is likely to maintain selling pressure to test Last Friday's low 1.3563 or lower at 1.3535 before reversing back up.
EU long levels: 1.3563, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3635, 1.3676, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a below average spread (144pips) bull spinning top closing on low vol>3weeks. The candle close and volume suggests more upside. The Daily candle is a below average spread (57pips) bear closing off the low on low vol<8days. The candle close and volume suggests more downside before reversing Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 SM is likely to continue selling pressure to remove weak longs to around the 1.6972 level or lower before reversing back northward.
GU long levels: 1.6972, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 06.13 am EST
EU: Weekly- the candle is a below average spread (130pips) bull large body spinning top closing on low vol<7weeks. The candle close and volume suggests a lack of buying interest. The Daily candle is a below average spread (69pips) bear small body spinning top closing on low vol<18days. The candle close and volume suggests more downside. Levels of interest (unchanged): Demand: short-term 1.3512, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3635, 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Note that price is still an intra-week candle from 3 weeks ago. SM is likely to maintain selling pressure to test Last Friday's low 1.3563 or lower at 1.3535 before reversing back up.
EU long levels: 1.3563, 1.3535, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3635, 1.3676, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a below average spread (144pips) bull spinning top closing on low vol>3weeks. The candle close and volume suggests more upside. The Daily candle is a below average spread (57pips) bear closing off the low on low vol<8days. The candle close and volume suggests more downside before reversing Levels of interest: Weekly/Daily supply level: 1.7063, 1.800 Demand: short-term- 1.6972, 1.6920, 1.6850, 1.6835 SM is likely to continue selling pressure to remove weak longs to around the 1.6972 level or lower before reversing back northward.
GU long levels: 1.6972, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7063, 1.8000
Posted at 06.13 am EST
Thursday 19 June 2014
DAILY REVIEW 19 June 2014
EU: The Daily candle is a small spread (57pips) bull closing at the high on low vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. The FOMC news and the speech by the FED's Yellen only resulted in a 57pips whiplash ending with a weaker dollar. SM is likely to maintain buying pressure to test the 1.3687 level or higher at 1.3730 before reversing back down.
EU long levels: 1.3550, 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3620, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (83pips) bull closing near the high on highvol>9days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 SM is likely to continue buying pressure to test the 1.7042 pivot before reversing back down.
GU long levels: 1.6940, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7042
Posted at 04.25 am EST
EU: The Daily candle is a small spread (57pips) bull closing at the high on low vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. The FOMC news and the speech by the FED's Yellen only resulted in a 57pips whiplash ending with a weaker dollar. SM is likely to maintain buying pressure to test the 1.3687 level or higher at 1.3730 before reversing back down.
EU long levels: 1.3550, 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3620, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (83pips) bull closing near the high on highvol>9days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 SM is likely to continue buying pressure to test the 1.7042 pivot before reversing back down.
GU long levels: 1.6940, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7042
Posted at 04.25 am EST
Wednesday 18 June 2014
DAILY REVIEW 18 June 2014
EU: The Daily candle is a small spread (51pips) bear closing near the low on low vol<5days. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. With the FOMC news expected today, SM is likely to retest the low at 1.3500 or lower to 1.3475 before reversing back up.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (51pips) bear closing 1/2 off the low on low vol<3days. The candle close and volume suggests a possible retracement before pushing back up. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 Even with the poor news yesterday, prices hardly moved. SM is likely to continue to retest yesterday's low 1.6936 or the previous breakout level 1.6920 before reversing back up.
GU long levels: 1.6940, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7010, 1.7030, 1.7042
Posted at 12.49 am EST
EU: The Daily candle is a small spread (51pips) bear closing near the low on low vol<5days. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. With the FOMC news expected today, SM is likely to retest the low at 1.3500 or lower to 1.3475 before reversing back up.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (51pips) bear closing 1/2 off the low on low vol<3days. The candle close and volume suggests a possible retracement before pushing back up. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 Even with the poor news yesterday, prices hardly moved. SM is likely to continue to retest yesterday's low 1.6936 or the previous breakout level 1.6920 before reversing back up.
GU long levels: 1.6940, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7010, 1.7030, 1.7042
Posted at 12.49 am EST
Tuesday 17 June 2014
DAILY REVIEW 17 June 2014
EU: The Daily candle is a below average spread (66pips) bull closing near the high on low vol>1day. The candle close and volume suggests the possible commencement of buying. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM reloaded at 1.3520 yesterday and is likely to continue to fade weak shorts to around the 1.3605 level before reversing to test the low at 1.3500
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (51pips) bull pseudo upthrust closing on low vol<2days. The candle close and volume suggests a possible retracement before pushing further up. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 Prices missed the 1.6995 pivot last week by 5 pips and opened gapped up about 10pips. With important UK news coming up today, SM is likely to position price against the direction of the intended move. SM is likely to continue to fade weak longs to around 1.6940 or the previous breakout level 1.6920 before reversing back up.
GU long levels: 1.6940, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7010, 1.7030, 1.7042
Posted at 12.10 am EST
EU: The Daily candle is a below average spread (66pips) bull closing near the high on low vol>1day. The candle close and volume suggests the possible commencement of buying. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM reloaded at 1.3520 yesterday and is likely to continue to fade weak shorts to around the 1.3605 level before reversing to test the low at 1.3500
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (51pips) bull pseudo upthrust closing on low vol<2days. The candle close and volume suggests a possible retracement before pushing further up. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 Prices missed the 1.6995 pivot last week by 5 pips and opened gapped up about 10pips. With important UK news coming up today, SM is likely to position price against the direction of the intended move. SM is likely to continue to fade weak longs to around 1.6940 or the previous breakout level 1.6920 before reversing back up.
GU long levels: 1.6940, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7010, 1.7030, 1.7042
Posted at 12.10 am EST
Monday 16 June 2014
DAILY REVIEW 16 June 2014
EU: Weekly- the candle is a below average spread (156pips) bear large body spinning top closing on low vol<6weeks. The candle close suggests more downside and the volume suggests a lack of selling interest. The Daily candle is a below average spread (58pips) bear spinning top on low vol<1day. The candle close and volume suggests the possible commencement of buying. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices are still contained within the 5th June 2014 FOMC blockbuster and subsequent NFP of 6th June 2014. Last Friday, I wrote "SM is likely induce shorts at the breakout level 1.3585..test the current low (1.3521)" but SM actually only went to the 1.3578 before dropping to retest the 1.3520 level and reversing. With the FOMC Rate decision due this week, SM will be likely to position prices against the direction of the intended move. SM is likely to fade weak shorts to around last Friday's Asia low (breakout level) 1.3547 or higher to 1.3575 before reversing to test the low at 1.3500
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3550, 1.3575, 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a average spread (253pips) bull closing off the high on low vol>2weeks. The candle close and volume suggests more upside. The Daily candle is a below average spread (70pips)bull closing 1/2 off the high on very high vol>5days. The candle close and volume suggests possible retracement before pushing further up. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 Prices missed the 1.6995 pivot last week by 5 pips and opened gapped up about 10pips. SM is likely to induce more breakout traders long at last Friday's high 1.6990 or even the 1.6995 pivot before reversing to fade weak longs to around the previous breakout level 1.6920 or even lower before reversing back up.
GU long levels: 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.6995, 1.7030, 1.7042
Posted at 01.32 am EST
EU: Weekly- the candle is a below average spread (156pips) bear large body spinning top closing on low vol<6weeks. The candle close suggests more downside and the volume suggests a lack of selling interest. The Daily candle is a below average spread (58pips) bear spinning top on low vol<1day. The candle close and volume suggests the possible commencement of buying. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices are still contained within the 5th June 2014 FOMC blockbuster and subsequent NFP of 6th June 2014. Last Friday, I wrote "SM is likely induce shorts at the breakout level 1.3585..test the current low (1.3521)" but SM actually only went to the 1.3578 before dropping to retest the 1.3520 level and reversing. With the FOMC Rate decision due this week, SM will be likely to position prices against the direction of the intended move. SM is likely to fade weak shorts to around last Friday's Asia low (breakout level) 1.3547 or higher to 1.3575 before reversing to test the low at 1.3500
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3550, 1.3575, 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a average spread (253pips) bull closing off the high on low vol>2weeks. The candle close and volume suggests more upside. The Daily candle is a below average spread (70pips)bull closing 1/2 off the high on very high vol>5days. The candle close and volume suggests possible retracement before pushing further up. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 Prices missed the 1.6995 pivot last week by 5 pips and opened gapped up about 10pips. SM is likely to induce more breakout traders long at last Friday's high 1.6990 or even the 1.6995 pivot before reversing to fade weak longs to around the previous breakout level 1.6920 or even lower before reversing back up.
GU long levels: 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.6995, 1.7030, 1.7042
Posted at 01.32 am EST
Friday 13 June 2014
DAILY REVIEW 13 June 2014
EU: The Daily candle is a below average spread (59pips) bull spinning top on average vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely induce shorts at the breakout level 1.3585 test the current low (1.3521) or the 1.3500 key level before reversing back to the 1.3585 breakout level (confluence with H1 ema200) before reversing to around the Asia low or around the 1.3530 level before reversing back long. A close below the 1.3530 would likely see a test of yesterday's low or even lower at the 1.3500 key level.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a large spread (144pips) bull closing at the high on very high vol>4days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 As expected, SM used Carney's speech yesterday to push prices back to test the highs. Prices have already continued the push up during Asia and SM is likely to test the 1.6995 pivot or the higher supply levels.
GU long levels: 1.6920, 1.6850, 1.6835 GU short levels: 1.6995, 1.7030, 1.7042
Posted at 05.43 am EST
EU: The Daily candle is a below average spread (59pips) bull spinning top on average vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely induce shorts at the breakout level 1.3585 test the current low (1.3521) or the 1.3500 key level before reversing back to the 1.3585 breakout level (confluence with H1 ema200) before reversing to around the Asia low or around the 1.3530 level before reversing back long. A close below the 1.3530 would likely see a test of yesterday's low or even lower at the 1.3500 key level.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a large spread (144pips) bull closing at the high on very high vol>4days. The candle close and volume suggests more upside. Levels of interest: Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6920, 1.6850, 1.6835 As expected, SM used Carney's speech yesterday to push prices back to test the highs. Prices have already continued the push up during Asia and SM is likely to test the 1.6995 pivot or the higher supply levels.
GU long levels: 1.6920, 1.6850, 1.6835 GU short levels: 1.6995, 1.7030, 1.7042
Posted at 05.43 am EST
Thursday 12 June 2014
DAILY REVIEW 12 June 2014
EU: The Daily candle is a small spread (35pips) bear spinning top on low vol<1day. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely test the current low (1.3521) or the 1.3500 key level before reversing back to the 1.3585 breakout level.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (72pips) bull wide-body spinning top on low vol<1day. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 As expected, SM used the news yesterday to push prices back up. Prices have already pushed up during Asia and SM is likely to test the 1.6880 or higher.
GU long levels: 1.6790, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 03.55 am EST
EU: The Daily candle is a small spread (35pips) bear spinning top on low vol<1day. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely test the current low (1.3521) or the 1.3500 key level before reversing back to the 1.3585 breakout level.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (72pips) bull wide-body spinning top on low vol<1day. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 As expected, SM used the news yesterday to push prices back up. Prices have already pushed up during Asia and SM is likely to test the 1.6880 or higher.
GU long levels: 1.6790, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 03.55 am EST
Wednesday 11 June 2014
DAILY REVIEW 11 June 2014
EU: The Daily candle is a below average spread (68pips) bear closing off the low on low vol>1day. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices have made a lower low since yesterday as prices have kept the downward move on relatively low volume. SM is likely test Asia low (1.3521) or the 1.3500 key level before reversing back to the 1.3585 breakout level.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (74pips) bear closing off the low on low vol>1day. The candle close and volume suggests commencement of buying. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices have pushed lower without any significant volume despite good UK news yesterday. With UK news again due later today, SM may be positioning prices prior to the news. SM is likely to test the 1.6730 or 1.6700 key level before reversing back up.
GU long levels: 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6780, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 02.35 am EST
EU: The Daily candle is a below average spread (68pips) bear closing off the low on low vol>1day. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices have made a lower low since yesterday as prices have kept the downward move on relatively low volume. SM is likely test Asia low (1.3521) or the 1.3500 key level before reversing back to the 1.3585 breakout level.
EU long levels: 1.3520, 1.3500, 1.3476, 1.3399, 1.3294 EU short levels: 1.3585, 1.3600, 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (74pips) bear closing off the low on low vol>1day. The candle close and volume suggests commencement of buying. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices have pushed lower without any significant volume despite good UK news yesterday. With UK news again due later today, SM may be positioning prices prior to the news. SM is likely to test the 1.6730 or 1.6700 key level before reversing back up.
GU long levels: 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6780, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 02.35 am EST
Tuesday 10 June 2014
DAILY REVIEW 10 June 2014
EU: The Daily candle is a normal spread (86pips) bear closing near the low on low vol<9days. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3585, 1.3562, 1.3535, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely test Asia low (1.3584) or lower (maybe even 1.3565, 1.3535) before reversing back to the 1.3676 pivot.
EU long levels: 1.3584, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3535, 1.3476, 1.3399, 1.3294 EU short levels: 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (48pips) bear "near doji" closing low vol<9days. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 SM is likely to test Friday's NFP low (1.6779) or lower (1.6750) before reversing northward.
GU long levels: 1.6775, 1.6760, 1.6750, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 03.48 am EST
EU: The Daily candle is a normal spread (86pips) bear closing near the low on low vol<9days. The candle close and volume suggests more downside. Levels of interest: Demand: short-term 1.3585, 1.3562, 1.3535, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM is likely test Asia low (1.3584) or lower (maybe even 1.3565, 1.3535) before reversing back to the 1.3676 pivot.
EU long levels: 1.3584, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3535, 1.3476, 1.3399, 1.3294 EU short levels: 1.3676, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (48pips) bear "near doji" closing low vol<9days. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 SM is likely to test Friday's NFP low (1.6779) or lower (1.6750) before reversing northward.
GU long levels: 1.6775, 1.6760, 1.6750, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 03.48 am EST
Monday 9 June 2014
DAILY REVIEW 9 June 2014
EU: Weekly- the candle is a below average spread (174pips) bull reverse upthrust on low vol>8weeks. The candle close and volume suggests more upside. The Daily candle is a small spread (55pips) bear spinning top closing on low vol<1day. The candle close and volume suggests no selling pressure. Levels of interest: Demand: short-term 1.3585, 1.3562, 1.3535, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Last Friday, I wrote "...enabled SM to reposition orders at the high possibly to drop during NFP...to create buying pressure to around the 1.3670 level..." SM did push prices to 1.3676 before reversing. SM is likely or higher to around the 1.3715 level before reversing back down.SM is likely to create buying pressure to retest Friday's high of 1.3676 or higher before reversing to retest the 1.3600 - 1.3590 level.
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3676, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a below average spread (146pips) bull spinning top closing on low vol>1week. The candle close and volume suggests more upside. The Daily candle is a small spread (64pips) bear closing off the low on low vol<1day. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Price opened with a small gap up of about 9 pips which was quickly closed and reversed. After removal of the weak long breakout traders last Friday, SM is likely to push prices to around 1.6875 - 1.6880 level before reversing downward. Being the first day of the week, SM is still in a state of setting up, a retest of Friday's lows or lower would provide the possible long entry levels.
GU long levels: 1.6775, 1.6760, 1.6750, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 02.57 am EST
EU: Weekly- the candle is a below average spread (174pips) bull reverse upthrust on low vol>8weeks. The candle close and volume suggests more upside. The Daily candle is a small spread (55pips) bear spinning top closing on low vol<1day. The candle close and volume suggests no selling pressure. Levels of interest: Demand: short-term 1.3585, 1.3562, 1.3535, 1.3500, 1.3475, Daily/Weekly: 1.3330, 1.3300, 1.3294 Supply: short-term: 1.3676, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Last Friday, I wrote "...enabled SM to reposition orders at the high possibly to drop during NFP...to create buying pressure to around the 1.3670 level..." SM did push prices to 1.3676 before reversing. SM is likely or higher to around the 1.3715 level before reversing back down.SM is likely to create buying pressure to retest Friday's high of 1.3676 or higher before reversing to retest the 1.3600 - 1.3590 level.
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3676, 1.3687, 1.3730, 1.3750
GU: Weekly- the candle is a below average spread (146pips) bull spinning top closing on low vol>1week. The candle close and volume suggests more upside. The Daily candle is a small spread (64pips) bear closing off the low on low vol<1day. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Price opened with a small gap up of about 9 pips which was quickly closed and reversed. After removal of the weak long breakout traders last Friday, SM is likely to push prices to around 1.6875 - 1.6880 level before reversing downward. Being the first day of the week, SM is still in a state of setting up, a retest of Friday's lows or lower would provide the possible long entry levels.
GU long levels: 1.6775, 1.6760, 1.6750, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 02.57 am EST
Friday 6 June 2014
DAILY REVIEW 6 June 2014
EU: The Daily candle is a very large spread (167pips) bull closing at the high on ultrahigh volume vol>84days. The candle close and volume suggests more upside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM used the news yesterday to clear out stops all the way to the 1.3500 key level breaking previous key pivots at 1.3562 and lower. The interest rate cut is a significant decision that has longer term effect and the huge whipsaw of >150pips yesterday simply enabled SM to reposition orders at the high possibly to drop during NFP today. SM is likely to create buying pressure to around the 1.3670 level or higher to around the 1.3715 level before reversing back down.
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a normal spread (102pips) bull closing at the high on very high vol>47days. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices had tested the 1.6824 level yeterday post ECB rate decision. With the NFP expected later, SM is likely to create breakout longs before taking their stops lower at around the 1.6775 or lower and reversing back long.
GU long levels: 1.6775, 1.6760, 1.6750, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 07.17 am EST
EU: The Daily candle is a very large spread (167pips) bull closing at the high on ultrahigh volume vol>84days. The candle close and volume suggests more upside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. SM used the news yesterday to clear out stops all the way to the 1.3500 key level breaking previous key pivots at 1.3562 and lower. The interest rate cut is a significant decision that has longer term effect and the huge whipsaw of >150pips yesterday simply enabled SM to reposition orders at the high possibly to drop during NFP today. SM is likely to create buying pressure to around the 1.3670 level or higher to around the 1.3715 level before reversing back down.
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a normal spread (102pips) bull closing at the high on very high vol>47days. The candle close and volume suggests more upside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices had tested the 1.6824 level yeterday post ECB rate decision. With the NFP expected later, SM is likely to create breakout longs before taking their stops lower at around the 1.6775 or lower and reversing back long.
GU long levels: 1.6775, 1.6760, 1.6750, 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 07.17 am EST
Thursday 5 June 2014
DAILY REVIEW 5 June 2014
EU: The Daily candle is a small spread (41pips) bear closing at the low on low vol>2day. The candle close and volume suggests more downside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. After retracing from it's high at 1.3638 and coming off Asia low at 1.3598 SM is likely to retest to around the 1.3600 again before reversing up to fade the weak shorts possibly to retest the 1.3650 or higher before the ECB interest rate decision. A close below 1.3585 will likely see more downside
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (69pips) bear small body spinning top closing on low vol>2days. The candle close and volume suggests more downside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices tested the 1.6700 key level yesterday as expected and broke above the 1.6750 to kiss the H1 ema 200 (1.6767) before reversing. Since then, prices retraced to the current Asia low of 1.6733. SM is likely to retest the 1.6761 level prior to the UK interest rate decision later and may move further on the news to test 1.6781 and reverse from this level. A break above this level will see the 1.6818 level tested.
GU long levels: 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 12.31 pm EST
EU: The Daily candle is a small spread (41pips) bear closing at the low on low vol>2day. The candle close and volume suggests more downside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. After retracing from it's high at 1.3638 and coming off Asia low at 1.3598 SM is likely to retest to around the 1.3600 again before reversing up to fade the weak shorts possibly to retest the 1.3650 or higher before the ECB interest rate decision. A close below 1.3585 will likely see more downside
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a below average spread (69pips) bear small body spinning top closing on low vol>2days. The candle close and volume suggests more downside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices tested the 1.6700 key level yesterday as expected and broke above the 1.6750 to kiss the H1 ema 200 (1.6767) before reversing. Since then, prices retraced to the current Asia low of 1.6733. SM is likely to retest the 1.6761 level prior to the UK interest rate decision later and may move further on the news to test 1.6781 and reverse from this level. A break above this level will see the 1.6818 level tested.
GU long levels: 1.6730, 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 12.31 pm EST
Wednesday 4 June 2014
DAILY REVIEW 4 June 2014
EU: The Daily candle is a below average spread (62pips) bull closing 1/3 off the high on low vol<5days. The candle close and volume suggests no buying pressure. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Euro actually rose to 1.3647 yesterday even with the news of mixed Euro data and good US data. It does look like SM is preparing to move lower. SM is likely to maintain the selling pressure to around the 1.3600 key level before reversing up to fade the weak shorts possibly to retest the 1.3650 or higher before the ECB interest rate decision. A close below 1.3585 will likely see more downside
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (52pips) bull pseudo upthrust closing on low vol<5days. The candle close and volume suggests more downside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Yesterday,prices reached 1.6781 on good UK data and reversed on good US data. SM look like they have completed the accumulation of short traders' stops and may be poised to move lower. SM is likely maintain selling pressure to test the 1.6700 key level and lower, a retest of the 1.6740 - 1.6750 level may provide short setups. A break below 1.6692 will see more downside.
GU long levels: 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6741, 1.6750, 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 12.31 pm EST
EU: The Daily candle is a below average spread (62pips) bull closing 1/3 off the high on low vol<5days. The candle close and volume suggests no buying pressure. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Euro actually rose to 1.3647 yesterday even with the news of mixed Euro data and good US data. It does look like SM is preparing to move lower. SM is likely to maintain the selling pressure to around the 1.3600 key level before reversing up to fade the weak shorts possibly to retest the 1.3650 or higher before the ECB interest rate decision. A close below 1.3585 will likely see more downside
EU long levels: 1.3597, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (52pips) bull pseudo upthrust closing on low vol<5days. The candle close and volume suggests more downside. Levels of interest: Supply: 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Yesterday,prices reached 1.6781 on good UK data and reversed on good US data. SM look like they have completed the accumulation of short traders' stops and may be poised to move lower. SM is likely maintain selling pressure to test the 1.6700 key level and lower, a retest of the 1.6740 - 1.6750 level may provide short setups. A break below 1.6692 will see more downside.
GU long levels: 1.6700, 1.6692, 1.6670, 1.6654 GU short levels: 1.6741, 1.6750, 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 12.31 pm EST
Tuesday 3 June 2014
DAILY REVIEW 3 June 2014
EU: The Daily candle is a small spread (49pips) bear closing near the low on low vol<4days. The candle close and volume suggests more downside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. The lower than expected German CPI coupled with the market expectation of an ECB interest rate cut plus the adjusted ISM manufacturing data caused prices to tank as the market discounted the Euro ahead of the ECB rate decision on Thursday. SM actually pushed prices to 1.3587 yesterday, just 2 pips shy of the pivot low at 1.3585 so it is possible that some breakout shorts could have been triggered by spread-widening as well. SM is likely to create buying pressure to around yesterday's high 1.3636 before reversing to continue the downward move.
EU long levels: 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3636, 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (42pips) bear closing about 1/2 off the low on low vol<4days. The candle close and volume suggests a current lack of selling pressure. Levels of interest: Supply: short-term 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Yesterday SM dropped and reversed from 1.6723 (we expected 1.6724) and reversed after which prices continued to oscillate. SM is likely maintain buying pressure to test the 1.6776 or higher before reversing to continue the downward move. Note that we have some key UK news news today that could be the fuel for these moves.
GU long levels: 1.6730, 1.6715, 1.6692, 1.6670, 1.6654 GU short levels: 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 11.31 pm EST
EU: The Daily candle is a small spread (49pips) bear closing near the low on low vol<4days. The candle close and volume suggests more downside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. The lower than expected German CPI coupled with the market expectation of an ECB interest rate cut plus the adjusted ISM manufacturing data caused prices to tank as the market discounted the Euro ahead of the ECB rate decision on Thursday. SM actually pushed prices to 1.3587 yesterday, just 2 pips shy of the pivot low at 1.3585 so it is possible that some breakout shorts could have been triggered by spread-widening as well. SM is likely to create buying pressure to around yesterday's high 1.3636 before reversing to continue the downward move.
EU long levels: 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3636, 1.3650, 1.3667, 1.3687, 1.3730, 1.3750
GU: The Daily candle is a small spread (42pips) bear closing about 1/2 off the low on low vol<4days. The candle close and volume suggests a current lack of selling pressure. Levels of interest: Supply: short-term 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Yesterday SM dropped and reversed from 1.6723 (we expected 1.6724) and reversed after which prices continued to oscillate. SM is likely maintain buying pressure to test the 1.6776 or higher before reversing to continue the downward move. Note that we have some key UK news news today that could be the fuel for these moves.
GU long levels: 1.6730, 1.6715, 1.6692, 1.6670, 1.6654 GU short levels: 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 11.31 pm EST
Monday 2 June 2014
DAILY REVIEW 2 June 2014
EU: Monthly- the candle is a below average spread (408pips) bear closing near the low on low vol>1month. The candle close and volume suggests more downside. Weekly- the candle is a small spread (82pips) bear small body spinning top closing on low vol<4weeks. The candle close and volume suggests no selling pressure. The Daily candle is a small spread (51pips) bull closing off the high on low vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices opened with a tiny 3.5pips gap up which has since been closed. Both breakout short traders and retracement short traders from the 1.3611 level have likely been removed with the price going up to 1.3649 on Friday. The path of least resistance now would logically be northward. SM is likely to create selling pressure to around current Asia low (1.3620) or to the 1.3611 breakout level before reversing to fade weak shorts up to the 1.3667 level or even the 1.3685 level before reversing to continue the downward move.
EU long levels: 1.3611, 1.3595, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3667, 1.3687, 1.3730, 1.3750
GU: Monthly- the candle is a below average spread (303pips) bear closing off the low on low vol<1month. The candle close and volume suggests more downside. Weekly- the candle is a average spread (189pips) bear large body spinning top closing on low vol<4weeks. The candle close and volume suggest more downside. The Daily candle is a below average spread (62pips) bull closing nearly 1/2 off the high on low vol<3days. The candle close and volume suggests a current lack of selling pressure. Levels of interest: Supply: short-term 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices opened with a gap up 14 pips that has since been closed. With the weak shorts from the 1.6731 level taken out last Friday, the path of least resistance now is northbound. SM is likely to create selling pressure to around the 1.6724 level or lower to 1.6715 before reversing to test 1.6781 or higher.
GU long levels: 1.6730, 1.6715, 1.6692, 1.6670, 1.6654 GU short levels: 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 11.31 pm EST
EU: Monthly- the candle is a below average spread (408pips) bear closing near the low on low vol>1month. The candle close and volume suggests more downside. Weekly- the candle is a small spread (82pips) bear small body spinning top closing on low vol<4weeks. The candle close and volume suggests no selling pressure. The Daily candle is a small spread (51pips) bull closing off the high on low vol>3days. The candle close and volume suggests more upside. Levels of interest: Demand: 1.3650 – 1.3642 (Fib61.8% confluence) 1.3576 – 1.3561 (Fib78.6% confluence) 1.3551 (H4 pivot) 1.3525 – 1.3512 (Fib88.6% confluence) Supply: short-term: 1.3642, 1.3667, 1.3687, 1.3730 Weekly/Daily: 1.4184, 1.4246 pivot. Prices opened with a tiny 3.5pips gap up which has since been closed. Both breakout short traders and retracement short traders from the 1.3611 level have likely been removed with the price going up to 1.3649 on Friday. The path of least resistance now would logically be northward. SM is likely to create selling pressure to around current Asia low (1.3620) or to the 1.3611 breakout level before reversing to fade weak shorts up to the 1.3667 level or even the 1.3685 level before reversing to continue the downward move.
EU long levels: 1.3611, 1.3595, 1.3587, 1.3561, 1.3572 - 1.3561 (Fib 61.8% confluence), 1.3476, 1.3399, 1.3294 EU short levels: 1.3667, 1.3687, 1.3730, 1.3750
GU: Monthly- the candle is a below average spread (303pips) bear closing off the low on low vol<1month. The candle close and volume suggests more downside. Weekly- the candle is a average spread (189pips) bear large body spinning top closing on low vol<4weeks. The candle close and volume suggest more downside. The Daily candle is a below average spread (62pips) bull closing nearly 1/2 off the high on low vol<3days. The candle close and volume suggests a current lack of selling pressure. Levels of interest: Supply: short-term 1.6918, 1.6995 Weekly/Daily supply level: 1.6991 – 1.7015, 1.7025 – 1.7045 Demand: short-term- 1.6760, 1.6720 (confluence Fib78.6%), 1.6690 (confluence Fib88.6%), 1.6670, 1.6654 Prices opened with a gap up 14 pips that has since been closed. With the weak shorts from the 1.6731 level taken out last Friday, the path of least resistance now is northbound. SM is likely to create selling pressure to around the 1.6724 level or lower to 1.6715 before reversing to test 1.6781 or higher.
GU long levels: 1.6730, 1.6715, 1.6692, 1.6670, 1.6654 GU short levels: 1.6781, 1.6833, 1.6857, 1.6875, 1.6905, 1.6918, 1.6995, 1.7030, 1.7042
Posted at 11.31 pm EST
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