Tuesday, August 28, 2012

GU EUR 28 Aug






GU D is having a strong pull back after its move up, still on higher high higher low flow. We are resting at very strong resistance levels from last few months and lower trend line. 4hr and 1hr both have strong lower high lower low flow. Selling here would need great care reducing risk as soon as possible due to the potential for a move up. A failed move lower and intra day double bottom/higher low on 1hr should be enough to move up, if not today then going forward. Failure to move up from such a strong resistance area would be very interesting.

EUR charts a very similar story except the potential support area is around 1.2425-50.

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