Recap 17 April

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.
Result: The upper resistance level held out with a strong move down to the previous 1.3000 support area. The 4hr did signal a sell, there were 2 x 1hr reversals also (after London open and after US open).

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.
Result: The 3rd 4hr candle did close with an upper wick to set up 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.
Result: The up bias did not play out. 4hr closed a hanging man. See candlesticker link on blog, whilst they regard this as a low probability bearish reversal candle (in their pic they show the candle making a new high) this 4hr hanging man makes a double top and closes below previous close. So whilst we were still above our 4hr 8lwma the failure of the good candle before the hanging man to follow through higher was a first warning. Like EUR some 8 hours of failure to move higher, 1hr negative divergence. Two reversals after London open and US open.