Euro Weekly and 5-day pattern
On the Weekly timeframe the expectation is that price is continuing
down into October lows.
In the short-term, as per yesterday's report:- short covering during
US trading hours sending the Euro back into the 5-day 50% level:-
rejection pattern within the monthly trend.
Now for the rest of this month and next month, it's about trading down
into October lows, using robust patterns within the 5-day range.
Then it's about filtering the entries using spiral techniques or the 5-day 50% level and the 3-day filter.
As you can see a lot can happen in 24hours, but not always they way
we want it to happen during our own timezone.
Tuesday:- expectation price is rotating back into the 5-day 50% level on Tuesday and continuing down into Tuesday's lows.
Breakout of Monday's lows and expectation price is moving lower.....
Note:- last day of the month and Quarter, but the Weekly timeframe on Friday's close verifies the levels
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
