The US holidays and poor EUR price action continued yesterday with no moves. GU did give a trade down in line with bias when 1hr engulfing closed negative and a little later 4hr lower high closed negative. EJ gave a couple of scalp sells in line with short term sell bias.
22 Jan
EUR - D close gives no insight and a 50 pip bounce up late Asian session needs to hold. The 4hr is still in effect going sideways. Will be looking for clarity on flow for direction and if this is not clearer at London open perhaps US open.
GU - Another D doji in the area of the Nov lows. In this run down doji's have been followed by a strong down day but we now have that support level. We are now in a late Asian session push up, 4hr still on lower high but showing positive divergence to price. No bias as there are arguments for buy or sell, good 1hr candles could take this either way.
EJ - D negative divergence, RSI crossed below signal line, but still above 50 level. 4hr negative divergence and a lower high following divergence is normally a decent set up. Bias down but there is always the likelihood the BOJ will take some action.
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