Friday, July 20, 2012

EUR 20 July - intra day lower high






EUR also had an ascending triangle but the prior move up on daily was not nearly as convincing as GU. The massive shooting star during London morning session followed by an intraday lower high evening star pattern suggested a move down in US session, 1hr chart.

Bias down for today. D couldn't follow through on the hammers earlier at an identified resistance level and still below RSI 50 level, 4hr and 1hr sell divergence, 4hr shooting stars, 1hr higher low, higher high cycle appears broken.

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