EUR - Pushed up to the 1.3000 resistance level and sold off strongly
with Bernanke testifying. D closed a shooting star. This would suggest
down trend resuming. We will have to see if the news reaction follows
through lower today or if the buyers at 1.2800 win the day. Bias down.
Result: The news reaction did not follow through lower. Bias down did not play out, the identified support level 1.2800/W M2 held. First warning sign a positive close on 4hr then a doji on 1hr.
GU
- I don't have the lower wicks marked on my D chart but its obvious (20
Mar, 4 Apr) that we have a potential support area here. Yesterdays
close looks nothing like the big wicks on those days. Bias down.
Result: Same as EUR, the identified support level/W S2 held. First warning sign a positive close on 4hr then a doji on 1hr.
EJ
- Yesterday closed a shooting star after reaching the D resistance
level/W R2, with negative divergence. On Y's D close we are still above
the 8lwma and RSI above the 50 level and looking to cross up. Asian
session has dropped 100 pips already making further counter trend (on D
chart that is) sells very tricky. No bias.
Result: EJ moved lower going into London open but no follow through lower after bouncing around at the lows.
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