FOREX EUR/USD 11th August 2008

EURO Daily

Euro looks to be continuing down into the Weekly lows :- random support around Monday's lows.

The Euro also likes to rotate back into the 5-day 50% levels on Monday, it's a pattern that normally happens, but not until GMT trading hours, if this is the case it shuold be supported above the brown filter.

Normal price action around the 5-day 50% level is a 41 pip reversal, but during US time it becomes a random pattern, which could kick higher into the 3-day filter.

Of all the three spreads on Monday, I would focus on the Euro.