24 July 2013

EUR - D closed positive above the 11 July high on another low range day, we are above our moving averages and RSI 50 level. 4hr upper wicks but flow higher high higher low. 1hr has made a lower high in Asian session probably on the AUD CPI news. Bias up but there are signs that the cracks are beginning to show and the move above the 11 July spike may yet be a fake.

GU - D closed with what looks like a hanging man at the end of move up (see Candlesticker in useful links on blog, bearish patterns) failing to break the resistance level again (12 July 2012 low, bodies high 11, 12 Apr 2013). 4hr showing divergence and RSI has crossed lower, showing potential for lower high following divergence. Sells here short term until D turns.

EJ - D closed a doji after a negative close 3 bar reversal, obvious indecision. 4hr made a lower high (following divergence which did follow through lower for a scalp sell) and now possibly forming a higher low. Should this confirm then bias up back into D trend.

EURAUD - Massive reaction to AUD CPI news. In the bigger picture we are going sideways for the last week between 1.4170 and 1.4330. Whilst I think up no bias until after effects of the news are clear.

AUD - D closed positive at the 0.9300 resistance level. Also a massive reaction to the AUD news. I think down but no bias until the after effects of news are clear.