I was looking for a Sell down to continue on Friday.. But whilst that set-up didn’t eventuate on Friday, below Friday’s lows next week and below Weekly 50% level the trend is down, and a similar pattern as GBP this week.(16th November)
Monthly highs still playing resistance on the Euro, and early Monday there is a break of the intra-day cycles. The 'probability-move' is back towards the Weekly 50% level:- a bullish set-up is a bounce off these levels finding support and closing above, with next day moving higher.
A weak pattern will be a break and continuation down back towards last weeks lows, confirming the change of 3-day cycle and below the Weekly 50% levels.
Weekly drops in forward timeframes favors down moves, but must be manage with intra-day cycles.
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