EURO Monthly and WeeklyEuro trading in a 4th Quarter breakout, with the expectation that price will continue down in December to form a double bottom since the breakout of the 4th Quarter lows in October.
Currently November's lows haven't reached, and next Week's 50% level is once again the trend guide.
In the short-term:- Weekly 50% level is the trend guide, & coming into the last week of the month might attract some upside move from Wednesday as it looks to move towards the December balance point before it continues down into lower lows from next month.
At this stage I don't have a view for the last week of November other than use the same patterns in the 5-day range.
4 Trades
3 winners 77
1 loss -9
This week was terrible for forex trading during Asian timezone, as most currencies didn't move until well into GMT trading hours, and most of the robust sell patterns occured in the US timezone.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
