24th Feb 2009 AUD, EUR, GBP/USD part 2
3-day pattern:- AUD, EURO, GBP
In any downtrend ,especially from a higher Weekly open and a reversal back down from the 5-day highs on Monday, Tuesday would normally sell down and continue the trend down.
AUD is moving higher, GBP is moving higher and back above the Weekly 50% level, and the Euro isn't above the filter yet, but it can.
It's a bit too early to move into Longs yet, but if currencies begin to HOOK daily bars over the Weekly 50% levels, then Wednesday should continue higher.
5-day highs on Tuesday random resistance zone, but not expecting major reversals down other than 4 hour trading range patterns.