29 July 2013

EUR - D closed a doji after moves during the London and US morning sessions failed to break Thursdays high. 4hr showing negative divergence. Whilst a retracement lower would be no surprise viewing this as pause in uptrend until D gives some kind of confirmation (engulfing negative close, RSI cross, close below 8lwma).

GU - Very similar picture to EUR.

EJ - D closed negative, 4hr lower high lower low flow, bias down.

EURAUD - D closed negative but the move below Thursdays low was quickly rejected. D RSI flat and we are above the 8lwma. 4hr RSI flat, we can either be on a higher low or lower high depending on how we close. Whilst the uptrend has struggled at 1.4400 The Thur/Fri move lower has arguably been the weakest attempt lower. A 4hr negative close would be a sell signal but I suspect bias up.

AUD - A solid positive close on Thurs and the move about its high on Fri had little follow through. A 4hr negative close would be a sell signal. No bias still range bound and can go either way.