FOREX EUR/USD 24th July 2008

"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."

Yesterday's report


Euro Daily and 3-day pattern


Euro completes the down move into the monthly 50% level, but the pattern I was looking for was the rejection down from the 5-day 50% level (like AUD), but price didn't move higher enough.

Thursday:- I don't have a probability pattern for Thursday for day traders so it would be focus on the level and try and take small 41 pip chunks...

5-day 50% resistance

Weekly lows support

Which means that a rotation down from the 5-day 50% level into the Weekly lows, or a rotation up from the weekly lows back towards the 5-day 50% level 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




    •