EUR Weekly and Daily chartsEURO heading back towards 1.5000
3-week cycle is a sell and failure this week to break the 3-week highs, and now moving below June's 50% level will push the Euro lower.
Next Week's view is a move up and then continuation lower....
"Therefore a robust pattern early this week is to come down a test the 5-day 50% level, and then find support around Tuesday's 3-day lows before heading higher into Friday.
Basically the 3-day lows on Tuesday need to hold for a continuation upwards."
Previous Weekly Report
EUR 3-day pattern
Last Week I was looking for a a push down into Tuesday's lows... it was critical for Tuesday to hold if the up-trend was going to continue.
Once Tuesday close below the 3-day lows, then the expectation was for price to continue lower into Thursday's lows, and follow the weekly timeframe lower.
Next Week:- The best set-up for the EURO to trade shorts would see price come up and test the 3-day highs. It could be Monday or the next day, but an ideal pattern is a move up into the 3-day highs and sell down from a higher daily open
EUR Spiral Filter
Once again use the Spiral filter as your trend guide and least Risk trade.
Note: each bar represents 95 pips over the past couple of weeks
