Thursday, October 11, 2012

EUR GU recap (higher low following divergence) + 11 Oct

Recap - We did get intra day higher lows following divergence on both pairs (1hr charts). That move up gave opportunities if trading at the time to sell at identified levels.

EUR - D doji at the support area, RSI below 50, 4hr positive close with divergence but lower high lower low in tact. The W pivots and support/resistance areas containing price. There are reasons to buy or sell today.

GU - D closed a doji for the 2nd narrow range day RSI below 50, 4hr higher low positive close suggests up. Again W pivots and support/resistance areas containing price. There are reasons to buy or sell.

Looking for the right candles to show the way. Either trade both currencies have areas that could cause reversals.









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