Thursday, October 16, 2014

16 October 2014

This week, there will be no bank rate decisions.

EU rose from W P 1.2641 to the high of 1.2885 in an extremely volatile market. Bias up. Buy on dips.
Daily - Previous day candle closed with a big engulfing bullish candle, crossed above 8 lwma, RSI above 50.
H4 - Higher low, above 8 lwma, RSI above 70, above signal. W R1 1.2775, W R2 1.2924, W R3 1.3057




GU rose from W M1 1.5875 to the high of W P 1.6083. Bias up. Might bounce from support.
Daily - Previous day candle closed with an white inside bar, below 8 lwma, RSI below 50 (yesterday bullish divergence played out).
H4 - Higher low, above 8 lwma, above signal, RSI above 50. W S1 1.5941, W P 1.6084, W R1 1.6214.



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