EUR Weekly and Daily chartsEUR looks to be pushing up into 1.6019.
It has bounced off the MAY 50% level and a breakout of the Weekly highs, with this week's expectation to push up towards 1.5884.
However, whenever there is a higher open in the Weekly timeframe, there is an expectation of a 2-day pullback towards the Weekly 50% level before and new UP trend develops.
If the UP trend continues then it should find support around the Weekly 50% level and continue higher by Friday....
Note: Weekly cycle is a SELL, there has been a bias to Risk UPwards for the past 3-weeks. Because the cycle is a SELL, traders need to keep in mind that a 4th Week can reverse downwards.
This will be confirmed with a break of the 3-day lows and matching Weekly 50% level :- 4th Weekly lower close by Friday.
Intraday price action on Eur:- favours 90 pip completion downward, when it's reversing down from the Spiral filter....
Matching 3-day lows and 5-day 50% level....which in a normal UP trend would hold and continue higher.
In a 'starting' reversal downtrend :- would break and then price would continue downward the following day....
