Weekly 50% level @ 1.5784 support."
Previous Weekly Report
Euro Weekly and Daily charts
Euro moved up into the Weekly highs and then reversed down into the Weekly 50% level, as support.
Next Week:-
Need to factor in that the July highs is a resistance zone which could last the entire month until we get closer to the month of August, and then a shift in levels.
We also need to factor in that prices could reverse back down into the monthly 50% level, which might or might not happen.
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.
The 5-day 50% level next week will be of importance for any continuation down.
Above the Weekly 50% level and also the 5-day 50% level, then traders should keep in mind that re-test of the Weekly highs is still a probability (3-day highs)
Please refer to the daily reports for all your trading set-ups.
