Euro Monthly and WeeklyExpectation that the Euro was moving higher this week into the Weekly highs.
There was also an expectation that price woulld stall and reverse back down into the 5-day 50% level, but instead price broke out the following day.
A change of a major trend always begins with the breakout of the 3-week channels.
However price is trading below the 4th Quarter breakout, which could result in a stall pattern until the actual Quarterly timeframe ends and resistance shifts, allowing the EURO to continue higher towards the Quarterly 50% level in early January.
Next Week:- Because of the 3-week breakout I would still like to see price come back down and retest the breakout, which aligns with the Weekly 50% level.
Weekly highs resistance & Weekly 50% level support.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
