Wednesday breakout, and expectation is that the EURO will push up higher on Thursday...
Probability pattern:- breakout and extend into Thursday's highs, reverse back down into the 5-day 50% level and Support....
Which coincides with multiple timeframe 50% levels:- 5-day, Weekly and Monthly, and then if Support is verified, look for higher prices on Friday:- Rising Weekly timeframe"
Yesterday's report
EURO Daily and 3-day pattern
Euro heading back towards the Weekly highs after rising up this week.
Thursday's view was to continue higher from the break and hit resistance around Thursday's highs, but instead continued higher into another breakout.
The Weekly pattern is forming a 5-day pattern rising higher....
EURO 3-day filter
Thursday's up move and continuation higher still has the view of a rotation back down to re-test the 5-day 50% level....
Friday's trend on whether it reverses back down or continues higher should be defined by the 3-day filter (brown)...
But we need to keep in mind of where this week's price is trying to move towards, and that's the Weekly highs.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
