AUD Weekly and 3-day pattern 7:45amExpectation of higher prices this week on AUD, with the potential of the AUD moving towards the Weekly highs.
Even though Thursday closed higher, I would have preferred Thursday to have continued towards the highs (6691), as it gives move room for intra-day patterns on Friday.
Looking at the levels on Friday, the only conclusion I can make is that the 3-day high breakout on Thursday @ 6554 and the blue level becomes a support for Friday and price moves higher.
Euro Weekly and 3-day pattern
Expectation that Thursday would be a consolidating trading day has played out, and Friday could end up being the same.
My view is that the Euro is trying to drift back down into the Weekly 50% level, which could align early next week, and then could push higher as it looks to move towards the December 50% levels.
However above the blue filter on Friday and price has a random length, and there is no resistance until the 3-day filter high.
Trade on the side of the blue filter on Friday
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
