AUD Weekly and 3-day pattern.
Breakout of the Weekly highs and above the March 50% level.
Thursday’s pattern didn’t play out, as I would have liked the AUD to move back down into the 5-day 50% level and trade up into Thursday’s highs.
And Thursday’s 3-day filter and 5-day high didn’t resist price.
At this stage there looks to be a push higher on Friday towards Friday’s highs.
Euro Weekly and 3-day pattern.
Same expectation as the AUD, but price didn’t move down into the 5-day 50% level instead heading higher.
3-day filter is the trend guide.
And ideally this could provide a reversal back down into the 5-day 50% level and exit any shorts.
However, it depends on this Weekly timeframe and whether Friday closes on it’s highs:- bottom to top close.
Using the 3-day filter pattern is doesn’t favour a higher close, but if price is above it, then don’t short it or run tight stops and keep an eye on the 4-hour patterns.
GBP Weekly and 3-day pattern.
March 50% level completes ,and I won’t have a view until Friday closes.
Preferably a consolidation pattern around these highs and use support next week for any higher moves.
But if it’s a directional weekly close on Friday, that means another UP day to form a Weekly Breakout pattern that follows Thursday’s breakout pattern.
Price looks to be moving towards Friday’s highs and 3-day filter
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
