AUD Weekly and 3-day pattern.
AUD completes the move down into the February 50% level and Tuesday’s lows.
If AUD is rising higher then around these levels the AUD should find support, but I’m not expecting a rally up off this level.
In fact whilst below the 5-day 50% level there is an expectation of another down day into Wednesday’s lows.
At this stage it’s too early to be going long on the AUD.
When trading currencies especially during the US timezone, they often follow the price action in the US markets. My view on US markets can often be used as an idea about trading the currencies during that Time zone.
In the US markets I’m not expecting an UP day on Wednesday (read Daily report later).
Therefore for those who think the AUD is going higher, then I would wait 1 more day and then make a decision after that.
5-day 50% level and blue filter random resistance
At this stage I’m not convinced the monthly trend is going higher simply because prices aren’t moving up from the double monthly low patterns
Euro Weekly and 3-day pattern
I still continue to believe that prices are going lower in February, but the Euro has been quiet erratic this week compared to the AUD and GBP.
The Weekly 50% level is resistance and the 3-day filters are trend guides.
The only way I can see the Euro going higher would be to have a HOOK bar over the Weekly 50% level:-
Daily close above the Weekly 50% level with the expectation of higher prices into Friday.
Therefore at this stage trade with the trend if already Short from the higher prices on Tuesday.
Wednesday no probability pattern
GBP Weekly and 3-day pattern
Reversal down from the Monthly 50% level:- 3-day filter sell off.
Resulted in a breakout of Tuesday's lows.
Expectation Tuesday lows will form resistance and push prices down towards Wednesday's lows.
5-day 50% level resistance.
no probability of going long on Wednesday, but those watching the US timezone....
Wednesday's low and Weekly 50% level Random support
