As often happens Fri morning was choppy and we were happy to sit on the sidelines. It was not until after the US news that the up bias played out. We were not in front of the computer at the time but patient trend traders were well rewarded.
17 Dec
EUR - We are right on the Sep highs after a solid W engulfing close. 5 days move up with barely a retracement does suggest a pullback is likely. Bias up perhaps from the D pivot 1.3132 or M2 1.3112.
GU - Similar story to EUR, strong W close right on a proven resistance level. Bias up but like EUR we can always react lower to the R level.
EJ - Gapped up on reaction to their election. There may be pressure to move lower to close the gap but then bias up.
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