Short term bias was up against the D charts which had not yet signaled. Price action very erratic.
15 Nov
EUR - D RSI crossed above its MA but still below 50 level, did not close above 8 lwma. I am not aware of any fundamental game changing news so viewing this as a pause in downtrend. If this is not the case and the start of move up then can probably expect another few days up and down whilst a D double bottom/higher low forms. 4hr appears to have broken lower high lower low flow. The move above the W pivot was rejected strongly and we have the potential for a head and shoulders pattern, clearly seen on 1hr. Negative (sell) divergence on 4 and 1hr.
Short term bias up with potential sell from W pivot.
GU - Much clearer charts than EUR. Whilst the daily ranges are shrinking we are still on lower high lower lows. The W pivots and support/resistance levels clear again from yesterdays range.
Bias down.
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