EUR GU EJ 26 Mar

We will have to see what the further reaction is to the decision to have private investors in Cyprus having bank deposits over 100,000 Euro's take a massive hit to save the banks? Surely a further flight to safety if you have money in a country with a risky economy i.e. southern Europe.

EUR - D engulfing close that couldn't break below the March lows (after a 170 pip run down no problem there). Trend resumed, bias down.

GU - D negative close that could not get a cross of RSI's signal line or the 8 lwma. A negative close on 1hr would be another low high. Whilst the D candle is not convincing 1hr bias down for now.

EJ - D engulfing negative close. 4hr on lower high lower low, 1hr had a higher low in Asian session overnight. That seems to be failing on the candle currently open. A D candle as good as that should follow through lower even if not at the pace of yesterday. Bias down.