In the case of the Euro, it’s not above the Weekly balance point but pushing down once again.
It’s often the case with Forex, that price likes to rotate towards the 5-day 50% levels and then push outward, in the case of the Euro it’s pushing downward.
And often the case if Forex markets are going to continue higher, it will be during US hours.
So until then:- if forex markets are going to kick higher on Monday, then I would like to see some pullback into the spreads of 90-95 pips before any new up-trend occurs using support or spiral filter support.
When using spiral filters it makes it much easier but then it's a waiting game....
EURO... 10:30
Looks like it's in a tight trading range, and the expectation is that the 3-day filter is going to push down, which hopefully will align with a 'spiral top and filter push down during Asian-GMT trading hours.
Until US trading hours I would focus on taking the small 41 pip ranges or looking for pink to pink moves....
AUD......
No filter match up and another tight trading day, which could kick up higher because of the Weekly balance point later on Monday.
Brown filter support:- 3-day high filter resistance, and one will break either way..
GBP.....
3-day filter support Monday high Resistance :- no probability pattern
JPY 10:28
Added short on spiral filter exit all + 24 pips
3rd spiral top and push down didn't match the spiral filter so no trade was taken...
On JPY I would like to see price move down as far as the 5-day 50% level for any new up trends are going to occur, but I'm still going to try and take small chunks out of JPY using spiral filters.
