AUD Monthly and 3-day patternAUD has stalled at the December 50% level, which is also below the 4th Quarter lows.
Once below the blue filter (3-day mid point), sellers appeared pushing the AUD lower.
At this stage whilst price is trading below the 5-day 50% level the expectation is to continue down into Friday's lows.
This pattern would be a high probability pattern if the Weekly timeframe was moving lower from a higher open, but in this case it's not.
Because the AUD is coming from a lower Weekly open, Friday could end up stalling and moving back towards the 3-day filter.
Trade on the side of the 5-day 50% level.
Euro Monthly and 3-day patternEuro has stalled around December's highs and the Quarterly 50% level.
The expectation now is that the Euro is slowly moving back towards the January 50% level.
Ideal pattern would be to see a Friday close below those highs today.
Therefore I would like the Euro to move back towards the 3-day filter :- resistance.
This matches the upper levels:- resistance
Friday:- Random support the 5-day 50% level.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
