Euro Daily
No follow through on the upside on Thursday towards the 5-day highs, instead drifting back down into a lower close.
I'm still expecting a move back towards the September 50% level, which I though would have occurring by now, but it looks like the Weekly balance point isn't allowing any upside moves.
Next Week's balance point will once again be used to define the trend.
Friday:- looks to be pushing down into Friday's lows, which could go as far as the Weekly lows.
I would normally let Friday close out and then trade again from next week, but if it's below the 3-day filter on Thursday, & Friday's 5-day 50% level after 11am est, then there is a bias to push lower into the close.
Important levels on Friday are:- 5-day 50% level and brown filter:- (No long trades for me on Friday until next week)
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
