Recap 21 Feb

EUR - View was: There is nothing to suggest that this is anything other than a rally in down trend. We could fall today or in two days. Short term counter trend buy (but that ship may already have sailed), looking for return to down trend, bias down. Lots of upper wicks around London open, fell nice after LO. At US open another upper wick with a shooting star and we fell nicely as per bias.

GU - View was: Would normally consider a day like to day as opportunity to buy and sell should good set ups arrive. Like EUR the counter trend move up may have gone too much to enter safely. We had hit 50% retrace of last leg down. So now the bias would be to wait for sells. There was a double top and then a negative close in US session started move down as per bias. The big drop only happened very late in session with GBP getting a rating down grade.

EJ - View was: D suggests down but for now the move below the 123.00 support level has been rejected. 4hr has not yet closed above RSI signal line/8lwma. Should that happen then a move up attempt might be made. Upper wicks after London open and a negative close hammer signaled move down.

Friday mornings are often volatile around London open and we don not generally trade that session (often very good trades in the hours preceding).