AUD Daily and 3-day pattern 7:30amThursday is simply about trading on the side of the brown filter.
If price is above it's moving back to the 5-day 50% level:- random resistance.
And it could go as high as the 3-day filter .
There is NO breakout of Wednesday's lows to confirm any further weakness down in Thursday's lows...
However, below the brown filter and market path is to continue down.
Note:- make sure you backfil data, as it will give precise levels, which were slight out yesterday.
EURO Daily and 3-day pattern
Trading below Wednesday's lows, therefore there is an expectation that price is heading down into Thursday's lows.
However, if price is trading above the brown filter by 11am, then the bias is to try and rotate back towards the 5-day 50% level.
There is a breakout of the Weekly lows, therefore we need to keep in mind that the Euro will try and rotate back towards the Weekly breakout:- resistance. (retest & reject)
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
