17 November 2014

This week, there will FOMC meeting minutes on Wednesday (19th November 2014) and also MPC bank rate votes.

Last week EU moved within 1.2390 and 1.2550 before closing near the high. Bias up. Buy on dips.
Daily - Previous day candle closed with a big hammer, above 8 lwma, RSI above 50.
H4 - Higher high, above 8 lwma, RSI above 50, above signal. W S1 1.2430, W P 1.2488, W R1 1.2530.

Last week GU dropped to the low of 1.5600 before recovered to close at W S2 1.5660. Bias down. Sell on rallies.
Daily - Previous day candle closed with a hammer, below 8 lwma, RSI below 30.
H4 - Lower low, lower high, above 8 lwma, above signal, RSI below 50. W P 1.5734, W S1 1.5523.