Friday, August 2, 2013

2 Aug 2013

General comments:

NFP today so there is always the chance of an early move and then erratic/sideways price action.


EUR - The move above 1.3300 that was immediately rejected on 31 July did result in a negative close 3 bar reversal day as discussed yesterday. RSI crossed lower and below 8lwma. There is potential for Apr/May body highs/11 July high/W M2 1.3205 to act as support. 4hr has made a low, 1hr on a lower high. Bias down, potential to bounce on support.

GU - D closed negative after a big spike up on news. 4hr is showing positive divergence, almost no reaction high in Asian session so they to not seem to be betting against down side continuing. Bias down, next target the resistance area 1.5000/5040 the Apr/May lows.

EJ - D closed positive in line with D bias and the 4hr higher low morning star close. Bias up.

EURAUD - D closed a doji. 4hr still on a higher low with an upper range at 1.4850, whilst this may hold/start fall am viewing as a pause in uptrend. Bias up.

AUD - D negative close, 4hr lower high lower low. Bias down.






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