Wednesday, April 17, 2013

EUR GU EJ 17 Apr

EUR - The previously identified support level above 1.3000/W M2 1.3038 held. D higher low engulfing close should follow through higher. We have stopped at the Sept highs and there are two W pivots to contend with. Also the over sized D candles sometimes don't follow through, should 4hr signal lower with an engulfing negative close would flip bias lower. Bias up with potential to go lower.

GU - The identified lower support level held. D positive close still constrained by the immediate resistance level and W M3, higher high higher low flow still in tact. 4hr appears to close to completing 3 candles with upper wicks rejecting move up. Bias up, we can move lower from the upper resistance levels.

EJ - The evening star pattern followed through lower reaching the 125.60 support level. D closed positive, 4hr flow up. Bias up.







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