5 Aug 2013

As expected most pairs did very little until NFP numbers came out of Friday. There were some big reactions then, as usual we'll need to see if these moves follow through or re-race back to their starting points.

EUR - D closed positive RSI above 50 level but could not cross its signal line. The 1.3300 resistance level held. 4hr evening star pattern. 1hr showing that Asian session could not even move 30 pips up to challenge the tops of Fri's range. Conflicting information , we can go either way no bias.

GU - D closed stronger than EUR, higher than the previous 2 closes. The 4hr lower high lower low now broken. 4hr also on an evening star pattern. The D close suggests up but there is always the chance Fri's move higher was a news reaction and not a change in trend. No bias.

EJ - D closed a doji, could not cross RSI lower or below the 8lwma. 4hr RSI crossed lower and now appears to be heading towards a lower high negative close. 1hr showing divergence at the 1.3200 highs and possible support at 1.3100. No bias.

EURAUD - D closed positive, 4hr higher high higher low in tact. Bias up.

AUD - D closed a large body doji, 4hr still on lower high lower low, positive divergence now showing. Bias down.