AUD Weekly and 3-day pattern 7:30amLast trading day of the year, but keep in mind that the Weekly closing price on Friday will confirm the levels.
AUD is trying to move UP towards January's 50% level, as it's being attracted towards the Monthly 50% levels.
Wednesday:- I would expect a similar pattern on Wednesday as Tuesday
Range trading between the 3-day filter and 5-day 50% level
EURO Weekly and 3-day patternI have the same pexectation on the Euro as the AUD, except my view is price is being pushed down towards the January 50% level, which is lower.
Wednesday:- 3-day filter & 5-day 50% level resistance.
GBP Weekly and 3-day patternIn last week's Weekly report I had the view that GBP would be moving lower.
That was simply based on the Weekly timeframe closing below November's lows.
Monday sold down from the Weekly balance point, but also on Tuesday there was a robust set-up for a continuation downward....
Monday breakout and rejection (Thrust) pattern from the 5-day 50% level on Tuesday.
Wednesday:-
There is random support around the Weekly lows, but if price is still trading below the blue filter then the bias is to continue down into Wednesday's lows and follow the monthly timeframe lower toward's January's lows.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
