Friday, September 21, 2012

EUR GU 21 Sep

We noted over the last few days that GU was not as clear as EUR for a move down.

GU - D closed a hammer and again a big move in Asian session. 1hr flow switched to HL HH. We have a major resistance level around 1.6265 where we can get a reaction and move lower again. In addition if EUR continues lower it could drag GU down. Comparing the reaction in Apr '12 to 1.6265 and now, my bias is up. Prepared to sell good set ups.

EUR - Bouncing between the SR and W pivots. At the moment we have stopped Asian session move up at low of 19 Sep. 1hr on LH LL. We could turn here or move up to W pivot and sell off there for an 85/15 trade. Whilst I suppose GU could drag EUR up for today sell bias.







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