13 October 2014

This week, there will be no bank rate decisions.

EU rose to 1.2700 before dropped to 1.2600. Bias up. Might bounce from support.
Daily - Previous day candle closed with a black body (3-bar reversal), crossed below 8 lwma, RSI below 50.
H4 - Lower low, below 8 lwma, RSI above 50, below signal. W P 1.2641, W M2 1.2567, W S1 1.2492

GU dropped to 1.6000 from W M3 1.6125. Bias down. Might bounce from support.
Daily - Previous day candle closed with a hanging man (3-bar reversal), crossed below 8 lwma, RSI below 50.
H4 - Lower low, below 8 lwma, below signal, RSI above 50. W P 1.6074, W M2 1.6012, W S1 1.5941.