1 October 2014

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

EU dropped to W M1 1.2570 before rebounded to 1.2630. Bias down. Sell into rallies.
Daily - Previous day candle closed with a black candle, 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 dropped to 1.6165 before rebounded to W M2 1.6230. Bias down. Sell into rallies.
Daily - Previous day candle closed with a black doji, below 8 lwma, below 200 EMA, RSI below 50 and below signal.
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.