AUD Weekly and 3-day pattern
Currencies are starting the week from a lower Weekly open and are going through a 2-day rotation back towards the Weekly 50% levels.
currencies are also in the 4th Week after 3 weeks of trending down, therefore there is a possibility that they could continue higher into Friday.
At this stage I view the Weekly 50% level as resistance.
Tuesday:- no probability patterns, just trade the levels.
Bearish below the 5-day 50% level and Weekly balance point.
Monday's trading
The view of Monday was that the 3-day filter would be resistance and price would push lower.
Thsi was the case over a 4 hour period moving down over 41 pips from the spiral top.
But then we saw 7pm buying and rising upwards from the 3-day break matched with the spiral filters, and then the rest of the rotated between the levels along with the filters.
If Tuesday is going to continue higher, then the 5-day 50% level is random support
Euro Weekly and 3-day pattern
Weekly 50% level resistance along with the 3-day filter highs.
5-day 50% level random support.
Less so if the Euro is reversing down from the 3-day filters.
Above Tuesday's highs and it's part of the 4th Week reversal back towards February 50% levels, but I would think that price would look to 'stall' for about 2-days before heading higher Thursday-Friday.
GBP Weekly and 3-day pattern
3-day filter random resistance.
5-day 50% level random support.
Ideal pattern would be to see price come down and find support around the 5-day 50% level, which matches the 3-day break yesterday (yellow), and then continue upwards.
