EUR - D closed negative at the 1.3000 support level (Feb-Apr '12). We
have W S1 at 1.3000 also. The EUR can easily go sideways for a week
before a good run. This range is bigger than EUR's typical sideways
moves. 1hr did have a higher low after divergence move up during Asian
session. We can go up further from 1.3000 but my bias down. The D candle
should follow through lower and the move up through W M3 and the 1.3125
resistance level was strongly rejected yesterday. W pivot 1.3071 and
resistance level/W M3 1.3123 could provide sell areas.
Result: The 1.3000 support level held, the big engulfing close had no follow through higher. GU - D engulfing close, 4hr flow lower high lower low. Bias down.
Result: The move down stopped at the previous days low and had a decent bounce.EJ - Has me a little stumped at the moment. D closed a doji, its not clear if 4hr is on a higher low or a lower high. No bias.
Result: Lots of 1hr lower wicks at London open saw move up, then became quite choppy.
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