AUD Weekly, 3-day pattern, and FilterThis week is all about whether currencies continue down into November lows, or swing upwards.
At this stage it's too early to tell which way they are going to go until a certain level breaks.
All best shorts occur from either the 3-day high, or the 5-day 50% levels.
AUD:- Short 6717 partial exit 6689 + 28
for any down trend to continue it has to break the Brown filter support and continue down.
If supports and breaks the 3-day filter, then AUD looks to be moving back towwards the November 50% levels
Euro:-Trading below the 5-day 50% level, but needs to break the support...
Otherwise a bounce off support and break of the 5-day 50% level can see further buying up into the 3-day filter.
GBP:- 5-day 50% level supportThe only sign of a continuation down would be to see Monday's lows breakout and close below them...
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
