EUR - D closed with a lower wick rejecting 1.2800. 4hr lower high lower low in tact, positive divergence is still showing. 1hr shows the bounce from 1.2800 at the London close time frame and Asian session then made a higher low.. The June '12 high/Mar, Apr '13 lows support/resistance level is 1.2745 where we have W S1 also. Seems like a good target if we can get there, the reaction up in Apr shows how 1.2800 was bought.. Bias down with obvious support at 1.2800. After an almost 400 pip move down with no real bounce a reversal is due.
Result: The 1hr higher low following 4hr divergence won the day and we did move up at London open and after London close. So we did get a (not totally unexpected) bounce up.
GU - D closed a lower high 3 bar reversal. 4hr just made a new low with positive divergence showing. Bias down.
Result: The 1hr higher low following 4hr divergence saw move up.
EJ - D closed positive. Comments from Economy minister Akira Amari, responding to a question on how far the yen should weaken, replied that while he couldn't comment himself, "it's being said that the correction of the strong yen is largely completed" set off a massive drop. No idea what the big boys will do with this.
Result: After the news at market open a small range day that we left.
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