EURO Weekly and Daily charts
As per Weekly report last week, the expectation of higher prices into Friday as it moves towards the Weekly highs.
If the Euro is going to continue higher then it should move up from July's 50% level and continue towards July's highs.
However, i'm slightly not convinced just yet that the EURO will go higher because of the 'step' formation' of the Monthly 50% level of July. Often a 'higher step' becomes as forewarning pattern that prices could reverse back down.
Next Week:- expectaton of higher prices into the Weekly highs, but once those higher prices are reached the expectation of a reversal back down into the July 50% level.
If July is going to hold and continue higher it should test and bounce off the 3-day lows and move higher the next day, not break the 3-day lows....
A break of the 3-day lows and trading below July's 50% level, and the expectation is that price is moving back down to last month's lows once again.
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