AUD Weekly and 3-day pattern:- 7:40amAUD came down into the 3-day filter on Thursday (Wednesday's high) and found support.
No probability on Friday's direction:- but if AUD is going to continue upwards on Friday towards the highs, then it should be trading above the brown filter...
Below and it's slipping back down into the 5-day 50% level, which closes out the month and the possibility of more downside into November's lows.
Euro Weekly and 3-day pattern
There was a major spike upwards on Thursday during Asian hours which surprised me....
The ideal pattern on Thursday was to stall at Thursday's highs and rotate back down into the 3-day filter high support zone:- Yellow.
Friday:- 3-day high support verified
and now it's all about the brown filter:- Above and it's moving towards Friday's highs.
Below the 5-day 50% level is a random outcome, as it's not part of this 5-day pattern for more weakness.
I would think more selling has a greater probability from a higher Weekly open and selling down from either a Monthly 50% level or a 3-day high filter
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
