Tuesday, August 6, 2013

6 Aug 2013

EUR - D closed negative with a small range. The 1 attempt above 1.3300 last week was quickly rejected. The 4hr chart shows the sideways mess. Whilst I suspect down chances are won't be watching this pair too closely, no bias.

GU - D closed positive but no follow through in the US session and Asian session. After such a strong move up that is an immediate warning sign. The D close should be bias up with at least some space to the 1.5400 resistance area and the next W pivot W R1 1.5435. Should the open 4hr candle close negative it looks like we will have a double top, sell divergence and RSI cross lower. Bias down.

EJ - D closed negative, Asian session has had a decent move up rejecting the move below 1.3000. 4hr is still on a lower high lower low, bias down.

EURAUD - D closed a shooting star rejecting an identified resistance level 1.4900, after the strong close on 31 July we have struggled to go higher. 4hr negative divergence and we have had 1hr lower highs following divergence yesterday. RBA interest rate news just out it looks like we are going lower.

AUD - D closed a hammer rejecting the move below 0.8900. 4hr positive divergence and we have had 1hr higher lows following this. It looks like the RBA news is trying to continue the push up.






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