Normal price action around the 5-day 50% level is to push the Euro down 41 pips during euro trading hours.
If there is going to be a breakout UP towards the Weekly highs this week, it's going to have follow through during the US trading hours."
Yesterday's report
Euro Daily and 3-day pattern
Euro rising up from the Weekly 50% level after the push down during GMT hours and breaking higher in US trading hours.
A position swing trader should partial exit on the break taking profits, whilst now holding longs UP into the Weekly highs (stops below Weekly 50% level)
Day traders use the 5-day 50% level as support.
Price action so far favours a rise UP into the Weekly highs this week.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
