Thursday, August 1, 2013

1 August 2013

EUR - D closed a large body doji after a London Close move up that continued higher on the FOMC statement. The move up is so laboured, immediately rejected above 1.3300, that I have no faith in a move up. Bias if anything down.

GU - D closed a hammer due to the FOMC news, RSI has not crossed higher nor has price crossed the 8lwma, so its a weak move up. 4hr has made a lower high. Yesterdays low must fail for flow to continue down. Bias down, potential to bounce up from support.

EJ - D closed a doji. 4hr looks like closing as a higher low. Bias up.

EURAUD - D closed positive touching the 1.4900 target mentioned a few days ago. We'll need to see how we react. There is a head and shoulders pattern potentially the right shoulder on 1hr at yesterdays high. Then there is 1.4900 as a challenge. Bias up until any rejection of these levels confirms.

AUD - D closed negative. 4hr lower high lower low in tact. Bias down.

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