Weekly Trend direction: Bullish

Weekly trend reversal level: 1.4677

Key G7 support levels: 1.4820, 1.4780, 1.4670

Counter-trend opportunities: 1.5240

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today's trade suggestion:
Little change after a quiet week last week. We have reached a key point, with a weekly close above 1.4850
probably surprising a lot of euro bears, and a good sign that we should try to rally further to key resistance at
1.5240. Key support levels are now well established, and we’ll look to buy into dips to the levels above. With a lot
of stops now cleared out, we should see a sharp rally early in this week. Once we get to 1.5240, the jury will once
again be out. Have we reached a major, long term top, or are we going to see another attack on the all time high
at 1.6000?

Summary:
Buy dips to supports after a clear reversal has formed. If this fails then wait for supports further down. Target
1.5240. Possibly try small counter-trend trades near 1.5240 after a clear reversal.

01 Dec (My apologies this should have gone up yesterday...)

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.4800

Key G7 support levels: 1.5000/4980, 1.4920, 1.4820

Counter-trend opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today's trade suggestion:
Interesting week as the JPY strengthened sharply against the euro and the dollar, whilst the euro broke to new recent highs vs. the dollar. This has turned the euro weekly direction bullish and we have a new weekly reversal level at 1.4800. The markets are messy to say the least, but that’s what is to be expected as we near year end. Caution is required and assumptions to be avoided like the plague! Whilst above 1.4800, we’ll look to buy the euro into dips, with first support levels at 1.5000/4980 (the major one – having been the previous range top for several months) Below that we have 1.4920 and 1.4820. Watch and wait for a clear reversal pattern to form
before buying and make sure you have firm stops in place! Target for longs is the weekly 78.6% Fibonacci level at 1.5240 and then (if this fails to withstand) 1.6000, the all-time high.

Summary:
Buy dips to 1.5000/4980 or 1.4920 after a clear G7 entry signal, target 1.5240 and then 1.6000.