DAILY REVIEW 3 September 2014

EU Analysis:

EU: The Daily candle is a very small spread (26pips) bull pseudo upthrust closing average vol>1day. Levels of interest: Demand: short term: 1.3104 Daily/Weekly: 1.3104, 1.3100 Supply: short-term: 1.3267, 1.3288, 1.3300, 1.3330 Weekly/Daily: 1.4184, 1.4246 pivot. Read the description in the chart above although what was written yesterday: "With order stacks likely to be located slightly below the 1.3104 pivot or the 1.3100 key level, it is likely that SM test the 1.3104 level and reversing upwards. We may have a reversal from this level before the downward move is resumed as the longer term bias is still short." is still valid.

EU long levels: 1.3105, 1.3100  
EU short levels: 1.3185, 1.3200, 1.3267, 1.3288, 1.3300 

GU Analysis

GU: The Daily candle is a large spread (147pips) bear closing at the low on very high vol>16days. The candle close and volume suggests more downside. Levels of interest: Supply short-term- 1.6655, 1.6685, 1.6725, 1.6770, 1.6820 Weekly/Daily supply level: 1.7178 (current pivot high), 1.7365, 1.7910, 1.800 Demand:  short-term-  1.6546, 1.6528, 1.6480, 1.6463 SM is likely to fade weak shorts. Please see the chart. 

GU long levels: 1.6463, 1.6390 
GU short levels: 1.6528, 1.6550, 1.6756

Posted at 04.45 am