FOREX EUR/USD 1st August 2008

"Last day of the month on Thursday looks to be a range day, which could go as high as July's 50% level to close out the month in the middle of the range @ 1.5683"

Yesterday's Report


EURO Daily and 3-day pattern

Euro rallied off Thursday's lows and moved back into the July 50% level before it got sold off.

August 50% level is the trend guide next week:- ideally a continuation down into next Week's lower lows.

But as often is the case on Friday:- the past few months has rarely seen a Friday that closes lower.

Normal Pattern is a higher close or a sideways pattern to close out the Weekly timeframe.

No probability pattern on Friday


  • All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT


  • Exact levels shown for current day aren't confirmed until midnight GMT





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