Thursday, August 29, 2013

29 August 2013

GBPAUD - Yesterdays bias up played out as did the resistance level with moves up getting rejected around 1.7470 and the D closed another shooting star. 4hr crossed lower yesterday signalling scalp sells. The lower end of the higher high higher low flow is just about holding. The 1hr is on a lower high. Don't know which will win, a move lower would target 1.7200 and a move higher 1.7480. I suspect a little more downside but a move up would be no surprise at all, no bias.

 EJ - The oversized negative candle on 27th did not follow through immediately as mentioned, the D closed a large body doji. The area 129.60 gave support in the week of 31 July, 15 and 20 Aug. I suspect down but a move up again no surprise, no bias.

EURAUD - Bias up did not play out as the 1.5000 resistance level held, D closed a shooting star. Asian session moved down strongly on a 4hr lower high. The next support level is around 1.4750/70.

AUD - The strong Asian move down yesterday did not follow through lower W S1 held and the D closed negative with a lower wick again. 4hr RSI crossed higher for a counter trend buy signal moving up to the (from 26 August high) 50% fib/W M2 area. No bias.

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