26 August 2014

EU opened gap down and didn't close the gap, stalls at 1.31900. Bias down with bounce from support. More downside expected.
Daily - Previous day candle gap down and closed with a bearish candle, below 8 lwma, RSI below 30.
H4 - Lower low, below 8 lwma, RSI below signal, below 30 (with bullish divergence). Next support at W S1 1.3170, W S2 1.3105.

GU opened with a gap down to 1.6535 and closed the gap to 1.6570. Bias down. Looking to sell on rallies. A trade was taken.
Daily - Previous day candle closed with an engulfing bullish candle, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Higher low and lower high, above 8 lwma, RSI below 50. Next support W S1 1.6500, W S2 1.6440.