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

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