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