10 July 2013

On 8 July every pair went against my initial view. Obviously it happens, 2 or 3 pairs did give valid counter trend signals. Yesterday pretty much every pair went, to use a phrase, to plan.

EUR - We are in the area of the Mar/Apr '13 lows after an engulfing lower high D negative close, positive divergence is showing. 4hr lower high lower low, divergence showing. Obviously we can bounce up from the lows. Bias down.

GU - D negative close at the March low with divergence. 4hr lower high lower low, also showing divergence. Can bounce from the lows/4hr counter trend signal but bias remains down.

EJ - Had no bias yesterday but with a 4hr shooting star and then a negative close 8 hrs of price action suggested a move down. D closed negative with a lower wick within the lows from the last week. We can bounce up but bias down.

EURAUD - D closed negative on the support level which can hold, bias remains down.

AUD - D hammer closed higher after 4 days where the 0.9040 area held. Unlikely to be my first choice to trade but bias up.