3 November 2014

This week, there will be BOE GBP bank rate decision (6th November, Thursday) and US NFP (7Th Bovember, Friday).

Last Friday, EU dropped to test W S2 1.2481. Bias down. Sell on rallies.
Daily - Previous day candle closed with a big black candle, below 8 lwma, RSI below 50.
H4 - Lower high, lower low, below 8 lwma, RSI below 30, below signal. W P 1.2592, W S1 1.2415, W S2 1.2307.

Last Friday, GU dropped to test 1.5940 again before recovered to W S1 1.6000. Bias down. Might bounce from support.
Daily - Previous day candle closed with a doji with longer wick below, below 8 lwma, RSI below 50.
H4 - Lower high, below 8 lwma, below signal, RSI below 50 (with bullish divergence). W P 1.5037, W S1 1.5892, W S2 1.5796