10 November 2014

This week, there will be no rate decisions from central banks.

Last week EU dropped to the low of 1.2350 before recovered to close at 1.2450. Bias down. Sell on rallies.
Daily - Previous day candle closed with a big white candle, below 8 lwma, RSI below 50.
H4 - Higher low, higher high, above 8 lwma, RSI above 50, above signal. W P 1.2463, W S1 1.2349.

Last week GU dropped briefly below W S2 1.5796 before recovered to 1.5860. Bias down. Sell on rallies.
Daily - Previous day candle closed with a hammer, below 8 lwma, RSI below 50.
H4 - Higher low, higher high, above 8 lwma, above signal, RSI below 50. W P 1.5893, W S1 1.5765.