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