Forex Spread: FOREX EUR/USD 29th August 2008 part 2

Euro 11:30

of all the three spreads the Euro looked like heading down towards the lows once again...

Went short @ 1.4711 :- 3-day filter and R41 spiral top

with the expectation that the Euro would complete the R41 pip down by 11am sydney time, and then continue down from the 5-day 50% level....

By 11.00 am the euro didn't move down but closed above the 5-day 50% level...