DAILY REVIEW 29 September 2014

EU Analysis:

EU: Weekly-The candle is a above average spread (224pips) bear closing at the low on very high vol<2weeks. The candle close and volume suggests more downside. Daily- The candle is a normal spread (83pips) bear closing at the low on low vol<1day. The candle close and volume suggests more downside but with some slowing of selling momentum. Levels of interest: Demand: Daily/Weekly: 1.2661, 1.2034 Supply: short-term: 1.2785, 1.2800, 1.2900, 1.2925, 1.2952, 1.3000, 1.3025, 1.3050 Weekly/Daily: 1.4184, 1.4246 pivot. Prices have already made lower low since last week and stopped just shy of the 1.2661 pivot. SM is likely to fade weak shorts to the 1.2742 or higher before reversing to test the 1.2661 pivot. 

EU long levels: 1.2695, 1.2661  
EU short levels: 1.2742, 1.2782, 1.2800 

GU Analysis 

GU: Week-The candle is a below-average spread (177pips) bear closing at the low on very high vol<2weeks. The candle close and volume suggests more downside. Day- The candle is a normal spread (94pips) bear closing at the low on low vol<1day. The candle close and volume suggests more downside. Demand: Weekly/Daily:  1.5870, 1.5850 Short term: 1.6350, 1.6320, 1.6248, 1.6058 Supply: Short term: 1.6620, 1.6185, 1.6230 (Gap), 1.6320 (Gap close) Supply Short Term: 1.6415, 1.6475, 1.6505, 1.6550, 1.6585, 1.6600, 1.6622 Nothing has changed and there really is no clear level to trade from at the moment. The only places I would look for a trade would be the pivot high at 1.6523 and pivot low at 1.6161" 

GU long levels: 1.6161, 1.6050, 1.5870 
GU short levels: 1.6523, 1.6585, 1.6600, 1.6622 

Posted at 03.05 am EST