FOREX EUR/USD 17th June 2008


EUR daily and 3-day pattern

http://forexspread.blogspot.com/2008/06/forex-eurusd-weekly-14th-june-2008.html

As per Weekly Report, expectation price was pushing up towards the Weekly 50% level and Monday's highs, and then reverse back down towards the lows.

Tuesday's trend will simply be defined by the 5-day 50% level and 3-day high (yellow).

If price is going to continue down into the Weekly lows, then it should sell off and continue down.

If price is going to follow the standard two day counter-trend move then the 5-day 50% level will support price, which isn't part of my probability pattern today.