DAILY REVIEW 16 Jun 2015

Hi folks, I'm in Eurpope at the moment and will try my best to get the analysis out daily again. 

EU Analysis:

EU: Perspective: Price has tested and broken through the 1.0500 which is simply a monthly low and psychological level with the next pyschological level at 1.0000 and the 0.9900 level being the breakout retest of a reaccumulation structure. Bias is still strongly down.  

MONTH- The candle is an above average spread (647pips) bear equal-bodied (same size a wicks) spinning top closing on very high vol<2weeks. This is absorption of selling. The candle close and volume suggests more upside. 

WEEK- The candle is a below average spread (302pips) bull closing 1/3 of the high on high vol<1week. The candle close and volume suggests more upside. 

DAY- The candle is a below average spread (105pips) bull closing near the high on low vol<2days. The candle close and volume suggests more upside.

Levels of interest: Demand: Daily/Weekly:  1.0000  

Background: The continuing Euro-Greek saga, mixed US data and yes/no rate hike all make for a beautiful ranging market that appears much like an accumulation of positions prior to a potential reversal for the EURUSD. 

The Oanda order book shows significant net newly trapped short volumes. 
Potential Fresh demand: 1.1155-1.1145, 1.1109-1.1098
Potential fresh supply: 1.1280-1.1290, 1.1295-1.1305, 1.1325-1.1335, 1.1345-1.1358, 1.1374-1.1385, 1.1397-1.1405
Trapped long (stop) orders: 1.1222-1.1215, 1.1205-1.1198, 1.1190-1.1178, 1.1155-1.1144
Trapped short (stop) orders: 1.1296-1.1305, 1.1312-1.1320

SM is likely to fade weak longs to 1.1252 or lower before reversing to test the 1.1370 level.

EU long levels: 1.1252-1.1245, 1.1220-1.1200, 1.1190

EU short levels: 1.1367-1.1386, 1.1450-1.1470


GU Analysis:

GU: Perspective: GU has closed strongly past the last month's low 1.4633 and looks headed toward  the next monthly pivot 1.4225 monthly pivot which is the next possible level of support/demand. 

MONTH-  The candle is an above average spread (725pips) bear upthrust closing on very high vol>3months.  The candle close and volume suggests more upside.

WEEK-  The candle is an above average spread (377pips) bull closing near the high on hig vol<1week. The candle close and volume suggests more upside.

DAY - The candle is a normal spread (126pips) bull pseudo hammer closing on low vol<14days. The candle close and volumes suggests more upside (the candle stick "type" itself is a bear trap meant to induce shorts.

Demand: Weekly/Daily:  1.4870 - 1.4812, 1.4229 Supply: Short term: 1.5574, 1.5600, 1.5619 

The Oanda order book shows significant retail net long volumes in profit. 

Potential demand stacks: 1.5502-1.5495, 1.5481-1.5470, 1.5455-1.5445, 1.5405-1.5485, 1.5358-1.5339
Potential supply stacks: 1.5610-1.5622, 1.5692-1.5704, 1.5799-1.5811
Potential long (trapped) stops:  1.5491-1.5473, 1.5462-1.5454,1.5407-1.5392, 1.5368-1.5350
Potential short (trapped) stops: 1.5609-1.5622, 1.5641-1.5660, 1.5690-1.5702  

SM is likely fade weak longs to 1.5555 or lower before reversing back to test 1.5700 and higher.

GU long levels: 1.5550-1.5540, 1.5520-1.5505, 1.5475, 1.5457, 1.5435, 1.5415, 1.5380, 1.5365, 

GU short levels: 1.5722-1.5735, 1.5775, 1.5814, 1.5827, 1.5870

Posted at 00.30 am GMT