EUR/USD Weekly 18th October 2008

Euro Weekly

Euro has completed the double low pattern into October lows.

But there is also a breakout of September lows, so at this stage EURO looks range bound between October lows and September lows (resistance).

Any further weakness in the next month and I would like to see price hit November 50% level and then continue down.

Euro Daily and 3-day pattern

At this stage the best trades are going to occur either around the 3-day filter highs, 5-day 50% level rejection pattern.

There will be up days, but for the next couple of weeks it's much the same as October looks like consolidating.

4 Trades this week

2 winners + 63
2 losses -50

One thing I know now is:- If I'm trading well in the Aussie dollar then the Euro isn't aligning with my timezone.

If I'm doing well in the Euro, then the AUD and YEN won't come to the party.

It's either the Euro spreads align 1 week, and then it's the turn of the Asian spreads the following week in my timezone.

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EURO/CHF

4 trades

2 winners + 112
2 losses -31