27 August 2014

EU drops to W S1 1.3170. Bias down with bounce from support. More downside expected.
Daily - Previous day candle closed with an inverted black hammer, below 8 lwma, RSI below 30. Next support at W S2 1.3105.
H4 - Previous candle closed with an engulfing bearish candle. Lower low, below 8 lwma, RSI below signal, below 30 (with bullish divergence).

GU moved in a range between 1.6600 and 1.6540 (previous low). Bias down. Looking to sell on rallies. Yesterday trade was closed at the low.
Daily - Previous day candle closed with an engulfing bearish candle, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Previous candle closed with an engulfing bearish candle, below 8 lwma, RSI below 50. Next support W S1 1.6500, W S2 1.6440.