Saturday, April 20, 2013

Recap 19 Apr

EUR - D closed a shooting star off the 1.3000 support level which is proving a tough nut to crack. The bounce up was not significant enough to change my down bias with obvious chance of buyers at the support level.
Result: Up and down day with little follow through.

GU - D closed positive but a weak close, still below 8lwma and RSI not crossed higher. 4hr just closed positive so strictly speaking not on lower higher lower low. We are above 50 RSI on all 3 time frames so bias up but a move lower would be no surprise.
Result: Up and down day but much cleaner that EUR's 1hr chart. Move up in line with 4hr higher low 3 bar reversal. Move down from the W M3 pivot/general resistance area identified on D charts.

EJ - D close still unconvincing. 4hr positive so would expect some move up. A reversal down again would be no surprise.
Result: Move up as per bias but after London open no follow through.



 

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