AUD Daily and 3-day patternMonday's view was for a move up into the 3-day filter:- resistance.
As pointed out in the Weekly report:- 3-day filter and 5-day 50% levels are robust sell-zones.
Monday reversed down (wasn't trading at the time), and now back around its highs.
Tuesday:- more than likely price will continue towards Tuesday's 3-day filter high:- random resistance:-
Brown filter support.
I've taken a short at the top here looking for a push down into the brown before it continues higher....
Short 7040 (stopped @ 7055 -15 )
On sidelines
Euro Daily and 3-day pattern
Monday:- Trading above the 3-day filter and pushed into the 5-day 50% level.
5-day 50% level Sell down (wasn't trading ) and back into October lows:- major support.
Tuesday:- it's all about Monday's lows and brown filter.
If it's trading below Monday's lows then expectation price is pushing down into Tuesday's lows:- breakout and extend.
Below Weekly balance point could see Euro down into Tuesday's lows as it heads down towards the Weekly lows.
If it's trading above:- then look for a move back into the 5-day 50% level, but it might take all day to get there.
Note:- previous brown filter @ 1.3394 could be intra-day resistance within a 4 hour block
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
