18 November 2014

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

Yesterday EU dropped to the low of 1.2440. Bias up didnt play out. A long was taken near weekly Pivot.
Daily - Previous day candle closed with an inverted black hammer, below 8 lwma, RSI below 50.
H4 - Lower high, below 8 lwma, RSI below 50, below signal. W S1 1.2430, W P 1.2488, W R1 1.2530.

Yesterday GU dropped to the low of 1.5620. Bias down played out. Sell on rallies. Missed the short trade.
Daily - Previous day candle closed with a long upper shadow, below 8 lwma, RSI below 30.
H4 - Lower high, below 8 lwma, above signal, RSI below 50. W P 1.5734, W S1 1.5523.