Tuesday, July 24, 2012

EUR GU 24 July - edit 8.30 gmt 24th

D charts - EUR has shown possible reversal bar, doji. RSI still below 50 level and we are below the 8 lwma (but thats also partly due to the strong moves down over a short period). GU a strong negative close on the possible resistance level 5500.

4hr charts - not shown but RSI's have crossed their sma's up, but still below the 50 level.

1hr - GU had a higher low in Asian session. EUR shows divergence and moved up after a lower wick candle followed up with a doji. Price moved up to 2150 area to close the gap from Sunday evenings open.




So there is the possibility of buys today, in view of the D have to view this as a rally in downtrend and be looking for chances to sell on any 1hr rejection of move up.

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