This price action wasn’t unexpected, and both the AUD and Euro Reversed back down.
It was surprising the GBP didn’t follow the same price action, but remained above Monday’ highs far too long to trade any shorts.
As per Weekly report:- Any continuation down this week needs to continue down from Tuesday’s 3-day filter and push down towards Tuesday’s lows.
AUD Weekly and 3-day pattern.
AUD reversal pattern down from Monday’s 5-day highs @ 7pm.
3-day filter and 5-day 50% level is the trend guide for Tuesday.
Whilst below the view is to move down into Tuesday’s lows and the Weekly lows.
No probability pattern to trade longs, but if it’s above 6457 then likely it won’t go down.
Euro Weekly and 3-day pattern.
Same pattern on the euro on Monday, but wasn’t as precise as the AUD, pushing higher into the 3-day filter before reversing down.
The Red channel high is the 3-day filter but offset by 1, as it seems the Euro likes this level far better than the default level (Yellow).
Same view as the Weekly report:- Sell down into Tuesday’s lows and the Weekly lows, as prices look to continue towards the February lows.
Price can either continue down from the 5-day 50% level or the Yellow Tuesday filter, which matches the Weekly 50% level.
GBP Weekly and 3-day pattern
Tuesday's open aligns with Tuesday's 3-day filter and Weekly 50% level, and I can only think GBP will continue lower based on the Price action, even though it was very erratic compared to the others.
No probability pattern of going higher:- but limit shorting above the Weekly 50% level and 3-day filter.
