12 July 2013

EUR - D closed with a substantial upper wick. COT data (click on the COT reports by Ralph Shell link below the broker rebate grid and from there go to articles) shows the big boys were short the EUR. This move up on Bernanke's statement could have triggered some stops. A 200 pip fall and 100 pip rally in US session makes direction and flow difficult to assess. I suspect down but no bias.

GU - D closed positive. 4hr higher low but could not sustain move above the 1.5200 high, admittedly by then it was late in US session, divergence showing. Bias up but a move lower from W R1 1.5172 would be no surprise.

EJ - D closed a doji with the 130.50/128.50 range respected. These charts are as clear as mud and there have to be better, clearer charts to trade. Basically no idea so no bias.

EURAUD - D closed positive closing on the 1.4250 resistance level. 4hr is still on higher high higher low cycle and is currently challenging the lows which may change the flow. Bias is up but a fall would be absolutely no surprise.

AUD - D closed a massive doji, similar to EJ there have to be better options to trade. No bias.