EUR GU 30 Aug

I don't know if the market is waiting for the end of the US holidays or the Jackson Hole conference where Bernanke and ECB President Mario Draghi are both speaking. Very small ranges yesterday. The analysis did play out however.

EUR - Yesterday morning we said we had the previous days high to contend with. It held and after 2 large upper wicks (2nd a shooting star) for a treble top we had a sell signal on 1hr chart during London morning session. D closed as an inside bar.


GU - Yesterday morning we mentioned we were looking for a buy signal if the 1.5800 D pivot/W pivot support level held, 1hr chart. It did signal during London morning session. D closed a doji.


Would expect another day where engulfing signals should play out even if ranges are small.