Thursday, April 25, 2013

EUR GU EJ 25 Apr

No recap of 24th. Tight ranges yesterday, bounces off support levels but few set ups with what we would describe as good entry candles. The clean move happened during the Asian session.

EUR - D closed positive, a doji, the indecision continues. 4hr divergence yesterday was followed by a move up during Asian session signaled by 4hr higher low, 8lwma/RSI cross. We have been around the 1.3000 support level for 2 weeks now and if we look back at Feb-Apr '12 the current moves are certainly not the same as we saw then. The 4hr, 1hr flow is suggesting up but I have doubts based on the comparison between now and Feb-Apr. The D has not yet signaled up, the 4hr signal could have played out, no bias.

GU - Essentially the same picture as EUR.

EJ -  Still struggling, we are now in the 4th day following the weekly hammer with no follow through higher. No bias.




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