"The expectation were for spreads to continue down towards their August lows, but because of the breakout of August lows (Friday close), the expectation now is that these spreads are going to follow similar patterns as what occurred in global index markets in 2008.

A breakout of August lows and expectation prices are going to continue down, but will have short-term counter-trend UP days.

Therefore over the next few weeks my focus is on providing the most robust 'short-trading' opportunities but only around the 3-day filters or 5-day 50% levels."

Previous Weekly Report

Next Week:- If the same patterns occur in currencies as what occurred in Index markets in 2008, then there is an expectation that there will be a large counter-trend move back towards the August Breaks before the trend continues down from September 50% level.

This counter-trend move should ocur late this week, or begin next week and this should move back into the August break and September 50% level. Once this completes the expectation is that prices will drift lower into a double Monthly low patterns in November 2008.

Therefore I'm looking a major UP move probably in the last Week of August, but then for the trends to continue down.