AUD Daily and 3-day pattern 7:30amThis week's view was for price to make it's way down into Wednesday's lows, verify support, and then continue higher on Thursday.
Price did eventually continue higher on Thursday but it was extremely choppy hitting the 3-day filter.
Friday:- there is no probability pattern on the direction, at this stage it looks range bound between the brown filter and the 3-day filter.
With Price trading around the 3-day filter on Thursday with still 3.5 hours to go until Friday, best pattern would be to move back down into the brown filter and then a move higher towards the 3-day filter. (higher Weekly close on Friday)
Don't trade longs below brown on Friday
EURO Daily and 3-day pattern
Thursday supported around October lows and trading range between the 5-day 50% level and Thursday's lows.
Friday:- No probability on direction.
However using the higher timeframe levels and 3-day pattern:- I would be looking for a similiar pattern with price testing the brown filter and continuing up towards the 3-day filter.
GBP Daily and 3-day pattern
GBP trading above the Weekly balance point.
The only conclusion I can make is:- the 5-day 50% level support and 3-day filter breakout with price rising higher on Friday.
Normally I would look to short the 3-day filter, but because price is tradign around October lows, supported around the Weekly balance point, i'm factoring a higher close on Friday, which could result in a 3-day breakout.
Higher Weekly close on Friday
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
