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