Thursday, July 18, 2013

18 July 2013

Bernanke is testifying again this afternoon.

EUR - I amended my resistance level to the body highs for Apr and May 1.3178 which held. D closed negative with a lower wick. 4hr RSI crossed lower and 1hr flow now on lower high. Since the big upper wick on 11 July its 4 days later and that high hasn't been challenged. That does not seem to be a bullish market to me? In view of 4hr short term bias down, only time will tell if this is the start of a big move.

GU - D closed a large body doji. 4hr showing negative divergence from last weeks highs, RSI crossed lower but the candle has not yet closed. Its Wed and the only big move was yesterdays news event that has not followed through. Will be looking short term for 4hr to set up sells until D confirms.

EJ - D closed a hammer above every charts moving averages and RSI 50 levels. We can react lower from the April high overall bias up.

EURAUD - D closed a doji in big up trend. 4hr positive divergence, RSI crossed up and now a higher low. Bias up.

AUD - D closed a doji in down trend. 4hr negative divergence, 3 bar reversal, RSI crossed lower. Bias down.





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