With Tuesday not selling down from the 5-day 50% levels in the first hour of trading but instead moving higher, the view change from a bias to rise but any continuation upwards this week needs to be verified by Daily HOOK patterns over the Weekly 50% level.
All three spreads have HOOK patterns, therefore being the last week of the month the view now is that price is rotating towards the March 50% levels and a higher Friday close.
A Friday higher close is a random pattern:- the next 3 days can just continue to trend upwards, or remain in a range bound sideways pattern until the end of this week, and then continue lower from the March 50% level.
AUD Weekly and 3-day pattern
The most robust pattern would be for price to come back and retest the 5-day 50% level and continue upwards.
Being HOOK pattern, price can continue upwards from the Weekly 50% level wtihout retesting the 5-day 50% level.
if that occurs there needs to be a breakout out of Wednesday's 5-day highs, and then there is a good reason to think that AUD will trend upwards into Friday:- especially above the monthly 50% level @ 65.55
Consolidating trading pattern would be Wednesday's 5-day highs resisting any further gains and drifting back down into the 5-day 50% level.
Euro Weekly and Daily
HOOK pattern:- 5-day 50% level and Weekly 50% level support for a move towards Wednesday's highs.
GBP Weekly and Daily
HOOK pattern with the view to continue towards Wednesday's highs or more...
Trade on the side of the blue filter, if above it's going higher 1.4483-1.4510
