AUD Weekly and 3-day pattern.
Still expecting a pullback on the AUD into April before any potential up move continues…
Simply trade on the right side of the 3-day filter
Euro Weekly 3-day pattern
Wednesday’s view was for price to follow the 5-day pattern into the 5-day lows, but once price moved back above the 50% level price went chasing the 3-day filter once again.
I have the expect same view on as the AUD, price to come down before it goes higher.
Simply trade on the Side of the 3-day filter, with a view for weakness down into the 5-day lows.
Note:- US Index markets bounced off the 10-day 50% levels, which usually sets up more gains this week.
If US markets go higher on Thursday, currencies will follow the same pattern.
Don’t short trade above the 3-day filters during Thursday.
GBP Weekly and 3-day pattern
I’m bullish on GBP but not whilst it’s below the 3-day filter.
Currently March 50% level is supporting the market, along with the 5-day 50% level.
At this stage unless price is above the 3-day filter it makes it hard for the ideal set-up.
Preferably I would like to see GBP move down into the 5-day lows and set-up for drive upwards from there.
but that might not happen.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
