EUR - The frequently mentioned resistance level of 1.3115/W R2 pivot held. D close negative, RSI crossed lower but we are still above 8 lwma. 4hr flow flipped to lower high. 1hr lower high lower low clear.
Selling EUR yesterday was counter trend. In general this requires substantially more information than 1 candle on say a 1hr chart to trigger a trade. We would be looking for a confluence of factors from proven support/resistance levels, W pivots, higher time frame divergence, price showing for some several hours that it does not want to advance.
GU - Asian push up did not follow through, W R2 pivot held. D close a doji, we are still above 8 lwma and RSI not yet crossed lower.
EJ - D positive close but again the Asian push up did not follow through. Negative sell divergence on all time frames.
6 Dec
Interest rate day for GU and EUR, could be a day for caution.
EUR - 1hr flow now lower high lower low. We stopped on W R1. Bias down.
GU - D not as convincing for sells as EUR. Price range bound between W R2 and W M4. We could get support at 1.6085, no real bias.
EJ - D clouding the picture as we never followed through Y's morning move up. We might be topping out. I prefer EJ to follow EUR (unless there is some other fundamental Yen story to say otherwise) so would take care buying EJ if EUR falling.
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