DAILY REVIEW 15 July 2014
EU: The Daily candle is a small spread (42pips) bull closing 1/2 off the high on low vol>1day. 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: 1.3615 (Daily ema200), 1.3730, 1.3800, 1.3900 Weekly/Daily: 1.4184, 1.4246 pivot. Prices went only as high as the 1.3639 level in thin trading. Prices closed nearly at the Daily ema200 (1.3614) SM is likely to create buying pressure to retest yesterday's high or higher (maybe 1.3650) before reversing to test the 1.3500 level.

EU long levels: 1.3615, 1.3500, 1.3476, 1.3399, 1.3294  EU short levels: 1.3646, 1.3670, 1.3730, 1.3800, 1.3900

GU: The Daily candle is a below average spread (55pips) bear closing just off the low on average vol>1day. The candle close and volume suggests more downside. Levels of interest: Supply short-term- 1.7178 (current pivot high) Weekly/Daily supply level: 1.7365, 1.7910, 1.800 Demand:  short-term- 1.7095, 1.7050, 1.6995, 1.6972, 1.6952, 1.6920, 1.6850, 1.6835 Yesterday, I wrote "A close below the 1.7095 level will likely see the 1.7050 tested", prices have pushed to a day low of 1.7058 already and SM is likely to continue the selling pressure to 1.7050 or lower to test the 1.7000 key level. 

GU long levels: 1.7050, 1.6995, 1.6970, 1.6952, 1.6930, 1.6920, 1.6850, 1.6835, 1.6825, 1.6810 GU short levels: 1.7142, 1.7155 - 1.7160, 1.7178, 1.7365, 1.7910, 1.8000

Posted at 04.13 am EST