EUR GU recap + 3 Oct

Recap - EUR was range bound in London open session and found support at 1.2880. GU's move lower appeared to be running out of steam but there was no follow through higher. No decent set ups until EUR stayed above 1.29.

EUR - upper wicks on D suggests there is little interest in moving up. The COT reports EUR shorts still being liquidated in an orderly fashion but they have some way to get yet before their positions are squared. In US session the move up was sold off again. D positive close with upper wicks suggests either direction. 4hr suggests down, 1hr suggests down. Bias down short term. Possible bounce around Y's lows targets 1.2842 W M2 to 1.28.

GU - D shooting star should go lower. 4hr lower high on track with upper resistance at W pivot 1.6180. Strong reaction again US session clearly shows move up cut short. Bias down with lots of resistance levels, lower trend lines to provide bounce areas.