EUR - Move lower could not be maintained D chart is not conclusive. 4hr heading up but essentially range bound between W pivots. 1hr has broken upper trend line. Short term bias up but there are lots of areas for sells to develop.
GU - D engulfing negative close, 4hr lower high lower low in tact. We could easily move up and have an 85/15 set up to sell around M3/lows of 28 Sep. Bias down.
However it is UK and EUR interest rate announcements and ECB press conference.Whilst there should be no surprises in interest rate decisions given the problems in the economy the ECB press conference can cause some jumps depending on what is said.
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