19 July 2013

EUR - D closed with another hammer, price did not go down after the lower high following 4hr divergence. Moves below 1.3100 have rejected on 17th, yesterday at London open and this morning in Asian session. Whilst the D is above the RSI 50 level and has a hammer it all seems a struggle to go up. The upper resistance area 1.3180 is approaching. Fairly clean 1hr trend line break and higher low set up Asian move. Bias is up but just does not seem convincing.

GU - D closed a hammer, 4hr still on higher low with the weeks high 1.5266 and W R1 approaching. Bias is up but like EUR just does not seem convincing.

EJ - D strong positive close, 4hr on higher high higher low. Bias up.

EURAUD - D closed positive with a 3 bar reversal but after the Asian/London open push there was no more upside for the day. That also is not inspiring confidence in move up today. There is a small hurdle at 1.4310, bias up.

AUD - After the doji D closed negative but it was all done in Asian session and no follow through lower during the London/US session. 4hr RSI crossed up and flat on 50 level. 1hr double bottom with divergence.