Wednesday, June 19, 2013

19 June

EUR - D closed positive and whilst the flow is up the 1hr chart would not have been easy to trade. D and 4hr RSI showing divergence.

GU - D closed negative with a large lower wick after 3 days failing to follow through higher, RSI crossed lower. 4hr had a 3 bar reversal close going into London open and is now on a lower high lower low. Time will tell if the current support at the 14 June lows will hold. A negative close at or near the Asian lows 1.5620 around London open would suggest more downside.

EJ - D still on a lower high but closed strongly higher. 4hr double top might be reject of the resistance level around 1.2760.

EURAUD - D positive close, 4hr RSI crossed lower. Bias up would expect challenge of last weeks highs 1.4250 area.

AUD - D negative close, 4hr 3 bar reversal double bottom at W M2 also showing positive divergence. Bias still down but perhaps the cracks are starting to show.




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