8 October 2014

This week, there will be FOMC meeting minutes on Wednesday (8th Wednesday) and BOE cash rate decision on Thursday (9th October).

EU dropped to 1.2590 before rose to test again the high of 1.2675. Bottom may have formed. No bias. Sell the rallies.
Daily - Previous day candle closed with a hammer, above 8 lwma, RSI below 50.
H4 - Higher low, above 8 lwma, RSI above 50 (with bearish divergence), above signal. W R1 1.2652, W M3 1.2722, W R2 1.2790.

GU dropped to 1.6030 before rose to test the high of W M3 1.6126. No bias. Sell the rallies.
Daily - Previous day candle closed with a hammer, below 8 lwma, below 200 EMA, RSI below 50.
H4 - Higher low, above 8 lwma, RSI above 50, approaching 50 ema. W M3 1.6126, W R1 1.6185.