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.