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