FOREX EUR/USD 8th July 2008 part 2



Euro Daily and 3-day pattern

Tuesday pushing down from the 5-day 50% level.

Tuesday isn't part a 'SHORT' probability pattern, because of the view that the higher timeframe 50% levels would support price on Monday, and then continue higher on Tuesday confirmed with a breakout.

But that now this looks less likely, as price is being pushed down and there isn't anything to verify an UP day, unless price breaks higher.

Higher risk trading longs on Tuesday.

  • 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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