AUD Weekly and 3-day pattern…
Tuesday failed to continue with the trend down :- 5-day 50% level.
Instead price broke the 3-day filter and moved back towards the 3-day highs.
Wednesday:- Weekly 50% level resistance
3-day filter trend guide:- because of the higher Daily open price can push back down into the 5-day 50% level…
5-day 50% level is random support, but I would prefer to leave the AUD trade out than looking for long trades.
5-day breakout will be bullish, but it would need to continue to break the 3-week highs.
At this stage trade on the side of the 3-day filter.
Euro Weekly and 3-day pattern
Tuesday rallied into the 5-day highs but pushed higher into the 3-day filter before reversing back down…
the Weekly 50% level is the trend guide…
Simply trade on the side of the 3-day filter:- no probability on direction, but if it’s back below the 5-day 50% level it’s probably heading down into Wednesday’s lows again.
If it’s a HOOK pattern then it should continue upwards towards the 5-day highs and more than likely follow a Friday pattern towards the Weekly highs:-
HOOK pattern leads to a higher daily close
GBP Weekly and 3-day pattern
Only currency that continued down from the Weekly breakout.
Trade on the side of the blue filter either way…
Wednesday’s lows random support
Above and price most likely to head back towards the 5-day 50% level and 3-day filter
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
