DAILY REVIEW 30 June 2014
EU: Weekly- the candle is a small spread (77pips) bull closing at the high on low vol<25weeks. The candle close and volume suggests more upside. The Daily candle is a small spread (41pips) bull closing at the high on low vol>5days. The candle close and volume suggests more upside. 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. The very low volume last week would suggest a slow SM mark up is in progress. Prices opened with a very small gap down of about 6 pips which already been closed and prices have also tested past last week's high of 1.3650 SM is likely to create selling pressure to the 1.3600 level before reversing to test the 1.3668 level or higher.

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: Weekly- the candle is a small spread (98pips) bull pseudo hammer closing on low vol< The Daily candle is a below average spread (44pips) bull small body spinning top closing on low vol<4days. 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  Prices opened with a small 7 pips gap down that was rapidly closed. 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 04.54 am EST