Tuesday, August 19, 2014

19 August 2014

This week, there will be FED meeting minutes on 20th August. Nothing big is expected before that.

EU was still consolidating between W Pivot and W S1. No bias. Waiting for breakout.
Daily - Previous day candle closed with a big bearish candle, below 8 lwma, RSI below 50, strong support from W S1 1.3350 W M1 1.3325 area. Combine 2 previous day candles we will see a doji with longer wick at the top.
H4 - Lower high, below 8 lwma, RSI below 50.



GU opened with gap up, stalling at W Pivot 1.6730. Bias down and bounce from support.
Daily - Previous day gap up and closed with a small hanging man, 8 lwma, RSI below 50, W M2 support 1.6670 and W S1 support 1.6610.
H4 - range bound, above 8 lwma, RSI above 50.



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