AUD Weekly and 5-day patternAUD Weekly high breakout and above the March 50% level.
Ideal pattern for any UP move to continue would be price to come back and retest the break or 5-day 50% level.
but it also can push up into the 5-day highs.
5-day highs and 3-day filter range resistance.
Euro Weekly and 5-day pattern3-day filter support and breakout on Wednesday.
Same pattern as the AUD:-
Ideal pattern for any UP move to continue would be price to come back and retest the break or 5-day 50% level.
But price can also can push up into the 5-day highs before coming back down the next day into support.
5-day highs random resistance.
5-day 50% level support & 3-day filter lower support
GBP Weekly and 3-day patternExpectation that GBP would move down into the Weekly balance point and then swing higher.
It did that, but the only problem was that it moved a bit too far down beforing reversing upwards.
On a Personal note, I even ran 40 pip stops and thought I would be safe, and I'd wake up on Thursday with a surprise, but it wasn't a nice surprise.
Anyway....Expecting the same pattern as the S&P:- Hook pattern over 1.4212 and continue higher into the March 50% level and Weekly highs.
Therefore a test and support around 1.4207 and hopefully during US timezone it continues to move into a higher daily close.
Note:- GBP could move slightly down into the previous 3-day filter and 5-day 50% level before heading higher.
Trade on the side of 1.4212.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
