9 December 2014

This week, there will be no central bank rate decisions.
Yesterday was all about USD weakness. EU rebounded and closed near the high at 1.2310. Bias down. Sell on rallies. Follow flow.
Daily - Previous day candle formed a doji, below 8 lwma, RSI below 50.
H4 - Higher high, higher low, above 8 lwma, RSI above 50 (yesterday bullish divergence played out), above signal. W S1 1.2200, W P 1.2353, W R1 1.2436.

Yesterday GU rose and closed near the high at 1.5650. Bias down. A short trade was taken near W Pivot.
Daily - Previous day candle closed with a big white candle, below 8 lwma, RSI below 50.
H4 - Higher high, higher low, above 8 lwma, above signal, RSI above 50. W S1 1.5506, W P 1.5634, W S1 1.5700.

8 December 2014

This week, there will be no central bank rate decisions.
Last Friday EU closed the week at low near 1.2275 after strong NFP report. Bias down. Might bounce from support. Follow flow.
Daily - Previous day candle formed an engulfing bearish candle, below 8 lwma, RSI below 50.
H4 - Lower high, lower low, below 8 lwma, RSI below 50 (with bullish divergence), below signal. W S1 1.2200, W P 1.2353, W R1 1.2436.

Last Friday GU dropped to new low and closed near the low at 1.5565. Bias down.
Daily - Previous day candle closed with an engulfing bearish candle (3-bar reversal), below 8 lwma, RSI below 50.
H4 - Lower high, lower low, below 8 lwma, below signal, RSI below 30. W S1 1.5506, W P 1.5634, W S1 1.5700.