Bias up with potential to fall. Some scrappy price action in London morning session and price moving up with bias in US session. We focused on EJ but there were good buy trades on all 3 pairs.
26 Nov
EUR - Approaching the resistance area from Jan-Apr 1.30. D solid engulfing pos close. 4hr RSI crossed below its ma but price above its ma. Bias up but reaction from the resistance level must be considered.
GU - Solid D engulfing close. We are at a 62% fib/resistance level/W M3 confluence so there is clearly potential to fall. In view of D this viewed as chance to buy dip in rally.
EJ - Solid D engulfing close. 4hr RSI crossed lower, 4hr and 1hr negative divergence so there is potential to move lower. Bias up.
Price action on Monday mornings (like Friday mornings) can be erratic whilst the market finds its feet. Should this be the case and we hesitate to move up giving an inter day higher low to signal buys in US session that's fine.
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