Interest rate day UK and EUR.
EUR - Price moved up to the W pivot where it stalled for 4 hours, bias down then played out.
GU - Bias up played out.
EJ - View was short term bias down but should flow confirm move up on 1hr with positive close crossing RSI/8lwma would be looking for uptrend to resume. We did move up at London open, same 4hr stall and fall as EUR.
8 Feb
EUR - D engulfing negative close stopped at the 11-24 Jan resistance level/W M1. 4hr and 1hr lower high lower low flow. Below RSI 50 level on 3 time frames. The only doubt is if the market having absorbed Draghi's comments decides to resume the uptrend. Bias is down move up would need solid price action first.
GU - D has upper wick and RSI crossed up. 4hr and 1hr above 50 level. Bias up.
EJ - Same as EUR, bias down but if the post news comments do not follow through will need solid candle patterns to resume uptrend.
Friday morning so care needed.
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