AUD Weekly and 3-day pattern 7:20amWeekly breakout and heading back towards the December 50% levels.
Thursday high breakout normally sees a rotation back down to re-test the breakout, which aligns with the 5-day 50% level.
Any continuation higher this week should hopefully be rising upwards from the 5-day 50% level.
There are still two probable patterns that could occur:- Friday continues towards the Friday highs and then reverses back down into support on Monday.
Or the most robust pattern would be to see a lower move early on Friday into the 5-day 50% level and then continue higher on Friday:- Higher Weekly close.
Euro Weekly and 3-day pattern
Same view as the Aussie analysis.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
