AUD Weekly and 3-day pattern
As per Weekly report:- expectation of lower prices in February.
As per Weekly report:- each 3-day filter is a resistance for shorting.
As per Text book patterns:- Weekly lows can support the market resulting in a swing back towards the timeframe 50% levels.
In this case the 3-day filter is a resistance level but much less so because of the positioning within the higher timeframes.
Therefore above the 3-day filter price is heading back towards the 5-day 50% level, which could result in a breakout of the 3-day channel high (blue) and a higher daily close during US trading timezone.
Euro Weekly and 3-day pattern.
Read the AUD report and apply to the Euro trading for Tuesday
GBP Weekly and 3-day pattern.
Different market dynamics....
5-day 50% level Resistance with an expectation of a push down into Tuesday's lows.
No probability on a higher daily close:- 3-day filter random resistance.
