EUR - A small push up to W M4 1.3079 at London open. It took the interest rate decision and ECB conference for the bias down to play out as expected.
GU and EJ charts were not as clear going into 6th. They did share the same theme, small pushes higher could not follow through for several hours, clear on 4hr charts. Key levels, divergences so enough reason to counter trend sell after the news.
7 Dec
NFP day, like the UK/EUR interest rates days yesterday (and the UK MPC minutes release) are days when I am happy to sit on the sidelines until after the news release.
EUR - We have now had the D engulfing close that we have been patiently waiting for to confirm the down bias from the analysis yesterday morning. Bias remains down.
GU and EJ - Essentially the same charts. Interesting again to see the magnets that are the W pivots. Bias down.
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