AUD Weekly and 3-day pattern
Currencies kicked up on Thursday rising above their 3-day blue filter and back towards the 3-day highs.
Price didn’t move down low enough on Thursday to trade longs upwards.
The same level on Friday along with the 5-day 50% level is the trend guide.
No probability on Direction.
The ideal Short-trade for position traders is the 5-day high @ 6545 which goes close to matching the monthly 50% level.
Day traders adjust to the market either side of the 5-day 50% level.
Euro Weekly and 3-day pattern
Long set-up aligned with the Euro looking for a move towards the 3-day filter.
If the Euro is going to follow the down trend again it should be pushing down from the 5-day 50% level and trading below the Weekly lows.
Day traders adjust to either side of the 5-day 50% level.
Position traders ideal set-up would be to see a rally into the 5-day high @ 1.2820 on Friday stall, and hopefully the market continues down next week.
GBP Weekly and 3-day pattern
Fake break on GBP, and imo it should sell off from the 3-day filter and continue down towards Friday’s lows.
Note:- if trading above the 3-day filter and Weekly 50% level, price could continue towards the Friday highs (5-day).
Ideal short-trade set-up for position traders around the 5-day highs.
In conclusion:- Expectation prices are moving down into February lows, and I can't get bullish on currenices along with Indexes until those lows have been reached.
Weekly Report out tomorrow
