Recap + 19 Oct

Recap - View Y was that both pairs were sending mixed signals. We ended up choppy until late in the day. I have looked at a couple of sites and cannot see reports on GU's fall at close of US session.

EUR - D neg close but RSI has not yet crossed and above 50 level. 4hr neg close and below 50, 1hr now on lower high lower low but the moves are not convincing. Overall bias down but the D's has not fully signaled yet. We have the major support levels from Feb-Apr '12 coming into play also.

GU - D engulfing neg close should follow through lower. We are at the W pivot and a support level which could provide a bounce. Bias down.