AUD Weekly and 3-day patternExpectation that the AUD is heading higher this week, and could move as far as .69+ by Friday.
Weekly 50% level support on Wednesday and pushing higher towards the 3-day filter.
Normally the 3-day filter is used as a resistance zone and a 'sell' pattern, but at this stage that could be less likely.
Blue filter support, any breakout above Thursday's 3-day filter and price is heading towards Thursday's highs
Euro Weekly and 3-day pattern.Yesterday's view was to reverse down from the Weekly highs and move back down into the 5-day 50% level.
Basically the entire week's set-up has played out, and for the next two day's my view is the Euro is going to consolidate.
This week's expectation was to continue higher into the Weekly highs, stall and reverse back down. That's happen now therefore I won't have a probability pattern until next week.
Thursday:- If the AUD is going to go higher this could drag the Euro higher also, especially if price is trading above the blue filter.
But at this stage any continuation higher and I would look for price to re-test the Weekly 50% level, which could be this week's but more likely next week's 50% level:- 2-day consolidation pattern.
Use the spiral filters
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
