AUD Weekly and 3-day pattern
AUD stalled at the December 50% level.
If it's going to follow a similar path as the Euro and continue higher towards the Quarterly 50% level in January, it should continue higher using the blue 3-day filter currently @ 69.90
If it's going to stall, then below the same level and expectation of a reversal back down into the 5-day 50% level and breakout of the Weekly highs.
Trade on the side of the blue filter (confirmed after 11am)
Euro Monthly and 3-day pattern
Continues to trend higher and will complete the move back towards the December highs which also match the Quarterly 50% level.
At this stage this is viewed as major resistance, but will need to verify any resistanct with a Friday close below and then a higher Sell on Monday (top-to-bottom Weekly timeframe)
In the short term I can't see too much more upside, but simply trade on the same side as the blue filter currently @ 1.4270
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
