30 September 2014

This week, there will be ECB rate decision on Thursday (2nd Oct) and NFP on Friday (3rd Oct)

EU moved within 1.2660 and 1.2720. Bias down. Sell into rallies.
Daily - Previous day candle closed with a doji, below 8 lwma, RSI below 30.
H4 - Lower high and higher low, below 8 lwma, RSI above 30 below 50, above signal. W P at 1.2753, W S1 1.2605, W S2 1.2529.

GU moved within 1.6210 and 1.6280. Bias down. Sell into rallies.
Daily - Previous day candle closed with a doji, below 8 lwma, below 200 EMA, RSI below 50.
H4 - Higher low and lower high, below 8 lwma, RSI above 30 below 50, below all ema. W S1 1.6180, W S2 1.6120.

29 September 2014

Back to market again after 2 weeks break. This week, there will be ECB rate decision on Thursday (2nd Oct) and NFP on Friday (3rd Oct)

EU continued big drop last week. Bias down. Sell into rallies.
Daily - Previous day candle closed with an engulfing bearish bar, below 8 lwma, RSI below 30.
H4 - Lower low, below 8 lwma, RSI just below 30 (with bullish divergence), below signal. W P at 1.2753, W S1 1.2605, W S2 1.2529.

GU dropped to 1.6240 on last Friday. Bias down. Sell into rallies.
Daily - Previous day candle closed with an engulfing bearish bar, below 8 lwma, below 200 EMA, RSI below 50.
H4 - Lower low, below 8 lwma, RSI below 30, below all ema. W S1 1.6180, W S2 1.6120.

12 September 2014

A referendum on whether Scotland should be an independent country will take place on Thursday 18 September 2014.

EU, again, moved between 1.2950 and 1.2890. Sell into rallies.
Daily - Previous day candle closed with an inside bar doji, below 8 lwma, RSI below 30.
H4 - Lower high, below 8 lwma, RSI just below 50, above signal. W P at 1.3000, W M3 1.3050, W R1 1.3100.

GU closed the day higher at 1.6260. No bias. Looking to sell into rallies.
Daily - Previous day candle closed with a white candle following a 3-bar-reversal pattern, above 8 lwma, below 200 EMA, RSI above 30.
H4 - Higher low, above 8 lwma, RSI above 50, approaching 50ema. W M2 1.6300 (gap started), W P 1.6410.

11 September 2014

A referendum on whether Scotland should be an independent country will take place on Thursday 18 September 2014.

EU moved between 1.2960 and 1.2890. Sell into rallies. The short at 1.2920 was closed at BE.
Daily - Previous day candle closed with an inside bar, below 8 lwma, RSI below 30.
H4 - Lower high, above 8 lwma, RSI just below 50, above signal. W P at 1.3000, W M3 1.3050, W R1 1.3100.

GU dropped to yesterday low at W S2 1.6050, yet closed the day higher at 1.6200. No bias. Looking to sell into rallies.
Daily - Previous day candle closed with an engulfing bullish candle (3-bar-reversal), below 8 lwma, below 200 EMA, RSI below 30.
H4 - Higher low, above 8 lwma, RSI above 50. W M2 1.6300, W P 1.6410.

10 September 2014

A referendum on whether Scotland should be an independent country will take place on Thursday 18 September 2014.

EU closed higher for the day at W M2 1.2940. Sell into rallies. A short was taken around 1.2920.
Daily - Previous day candle closed with a white body, below 8 lwma, RSI below 30.
H4 - Higher low, above 8 lwma, RSI above 50 and signal. W P at 1.3000, W M3 1.3050, W R1 1.3100.

GU moved within 1.6160 and 1.6060. More downside expected. A short taken around 1.6110 was closed at 1.6080 after seeing the doji on H1.
Daily - Previous day candle closed with a doji, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Lower high and higher low, below 8 lwma, RSI above 30. W S1 at 1.6180, W S2 1.6050, W S3 1.5820.

9 September 2014

A referendum on whether Scotland should be an independent country will take place on Thursday 18 September 2014.

EU dropped below 1.2900. More downside expected.
Daily - Previous day candle closed with an engulfing bearish candle, below 8 lwma, RSI below 30.
H4 - Lower high and lower low, below 8 lwma, RSI below 30, below signal. W S1 at 1.2860, W S2 at 1.2770.

GU dropped below 1.6100. More downside expected.
Daily - Previous day candle closed with a shaven bottom, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Lower low, below 8 lwma, RSI below 30. W S1 at 1.6180 broken, W S2 1.6050, W S3 1.5820.

8 September 2014

Today the news of Scotland independence vote had shaken the Pound.

EU moved range bound after a huge drop on last Thursday. More downside expected.
Daily - Previous day candle closed with a doji, below 8 lwma, RSI below 30.
H4 - Higher low and lower low, below 8 lwma, RSI below 30, below signal. W S1 at 1.2860, W S2 at 1.2770.

GU closed at 1.6320 on last Friday, opens today gap down at 1.6240 and drop subsequently to W S1 1.6180, almost 150 pips drop. More downside expected.
Daily - Previous day candle closed with a black hammer, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Lower low, below 8 lwma, RSI below 30. W S1 at 1.6180, W S2 1.6050.

5 September 2014

Today NFP was worse than expected, BOE kept the rate unchanged, while the ECB unexpectedly cut the benchmark interest rates by another 10bps to new record low of 0.05%. Correspondingly, it also lowered the bank overnight deposit rate to -0.2% and the marginal lending rate to 0.3%. The ECB would start purchasing asset-backed securities and covered bonds in October. ECB has an inflation target of 2.0%.

EU dropped 200 pips from 1.3150 to 1.2940. Yesterday short was closed at 1.2970. More downside expected.
Daily - Previous day candle closed with a big engulfing bearish candle, below 8 lwma, RSI below 30.
H4 - Lower low, below 8 lwma, RSI below 30, below signal. The drop broke through W S1, S2 and S3 level. Next support is at 1.2900.

GU dropped from 1.6460 to 1.6330 after ECB decision. More downside expected.
Daily - Previous day candle closed with another big engulfing bearish candle, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Lower low, below 8 lwma, RSI below 30 with bullish divergence. W S3 1.6470 was broken, next clustered support at 1.6250.

4 September 2014

This Thursday there will be decision on rate by ECB and BOE, Friday NFP.

EU moved within a narrow range 1.3120 - 1.3160 (W Pivot level). Yesterday short didnt look good at the moment.
Daily - Previous day candle closed with an engulfing bullish candle, below 8 lwma, RSI below 30.
H4 - Higher low, above 8 lwma, RSI above 50, above signal. First rejection off W P. Next resistance at W R1 1.3190, W R2 1.250.

GU dropped further to 1.6435 twice after rejection off near W S2 1.6500. Might bounce from support.
Daily - Previous day candle closed with a doji after huge drop, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Lower high, below 8 lwma, RSI below 30 with bullish divergence. W S3 1.6470 was the low in March 2014 before the rallied to 1.7150 started.

3 September 2014

This Thursday there will be decision on rate by ECB and BOE, Friday NFP.

EU moved within a narrow range 1.3110 - 1.3130. No bias. Might bounce from support. A short was taken on H1, didnt look good at the moment.
Daily - Previous day candle closed with a hammer, below 8 lwma, RSI below 30 (with bullish divergence).
H4 - Lower high and higher low, above 8 lwma, RSI below 50, above signal. Next support at W S1 1.3100, W S2 1.3070, W S3 1.3010.

GU dropped to W S3 1.6470 after rejection off W R1 1.6625. Bias down. The short trade was closed when Asia opened. Missed the big drop.
Daily - Previous three-white-soldiers pattern was fake, it closed with a huge black candle, below 8 lwma, below 200 EMA, RSI above 30 (with bullish divergence).
H4 - Lower low, below 8 lwma, RSI below 30. W S3 was the low in March 2014 before the rallied to 1.7150 started.

2 September 2014

This Thursday there will be decision on rate by ECB and BOE, Friday NFP.

EU moved within a narrow range 1.3120 - 1.3150. More downside expected. Bias down with bounce from support.
Daily - Previous day candle closed with a doji, below 8 lwma, RSI below 30 (with bullish divergence).
H4 - Lower high, below 8 lwma, RSI below 50, below signal. Next support at W S1 1.3100, W S2 1.3070.

GU moved higher and rejected twice off W R1 1.6625. Bias up.
Daily - Previous day candle may have formed a three-white-soldiers pattern, above 8 lwma, below 200 EMA, RSI above 30 and signal.
H4 - Higher low, above 8 lwma, RSI above 50. Resistance W R2 1.6660, W R1 1.6625, support W S1 1.6545.

1 September 2014

This Thursday there will be decision on rate by ECB and BOE, Friday NFP.

EU closed the week at low. More downside expected. Bias down with bounce from support.
Daily - Previous day candle closed with an engulfing bearish candle, below 8 lwma, RSI below 30 (with bullish divergence).
H4 - Lower low, below 8 lwma, RSI below 30. Next support at W S1 1.3100, W S2 1.3070.

GU moved in a range between 1.6600 and 1.6540 (previous low) last week. No bias.
Daily - Previous day candle closed with a doji, above 8 lwma, below 200 EMA, RSI above 30 and signal.
H4 - Range bound, above 8 lwma, RSI above 50. Resistance W R1 1.6625, support W S1 1.6545.