AUD Weekly and 3-day pattern 7:40Expectation currencies are moving higher this week, as prices rise up from November's lows and back into the December 50% levels.
Tuesday:- Early selling pressure on Tuesday, which ended up bouncing off the Weekly balance point and then rallying to the 3-day filter.
Today:- bias is to contnue higher towards the Weekly Highs.
Trend guide is the blue/brown filters
Euro Weekly and 3-day patternEuro has completed the move back towards the Weekly highs, and this is my resistance zone.
Today:- The only set-up I have is a higher Wednesday open and look for a move back down to retest the Weekly 50% level this week.
3-day high filter is the trend guide for a move back towards the 5-day 50% level on Wednesday.
In conclusion:- normally currencies move in unison together, however today I favour AUD rising and the Euro reversing down simply based on price action.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
