Monday pushing down from the filter and back towards Monday's lows, which has a random support level;- no matching filter to trade longs.
Break of support and close below today, will push price back towards the Weekly 50% level...."
Yesterday's Report
AUD Daily and 3-day pattern
Monday reversed down breaking Monday's lows and continuing down into the Weekly 50% level.
Whenever there is a breakout, price normally comes back and re-tests the break before continuing with the trend within the Weekly 5-day pattern.
Often that reversal is defined by the 5-day 50% level the next day.
Therefore Tuesday's range is defined by the 5-day 50% level, however because price is trading above the Weekly 50% level the view is a stalling-consolidating day.
Price is trading below the breakout but above the Weekly 50% level and intra-day filter (brown) :- conflicting price action.
Next Probability pattern on Wednesday.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
