25 November 2014

This week, there will be no central bank rate decisions, only US Prem GDP (25th Nov, Tuesday) and OPEC meeting (27th Nov, Thursday).

Yesterday EU recovered from a gap down and rose all to the way to close just below W Pivot 1.2454. Bias down. Sell on rallies.
Daily - Previous day candle formed a full white body candle, below 8 lwma, RSI below 50.
H4 - Higher high, higher low, above 8 lwma, RSI below 50, above signal. W S1 1.2308, W P 1.2454, W R1 1.2533.

Yesterday GU rose to the high of 1.5715 before closing near the high. Bias up. Buy on dips.
Daily - Previous day candle closed with an engulfing bullish candle (3-bar reversal), above 8 lwma, RSI below 50.
H4 - Higher high, Higher low, above 8 lwma, above signal, RSI above 50. W S1 1.5582, W P 1.5729, W S1 1.5806.