FOREx EUR/USD 23rd July 2008

"Next Week:- Weekly 50% level support once again, and if price is going to continue down, then I would like to see a rejection and sell-off pattern from the 3-day highs, and a large trending down day closing below the Weekly 50% level."....

Weekend Report




Euro Daily and 3-day pattern

Even though Monday looked bullish with prices rising up from the Weekly 50% level, once trading around the 3-day highs on Tuesday there was a probability pattern unfolding once price dropped back under the 5-day 50% level on Tuesday.

Tuesday ended up with a large trending day down closing below the Weekly 50% level....

Wednesday:- Expectation the prices are pushing down from the 5-day 50% level and Weekly 50% level into Wednesday's lows (random support).

With a move back into July's 50% level @ 1.5683 more than likely.



  • 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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