AUD Weekly and 3-day patternAUD into Weekly support with the view of higher prices in April.
Most currencies have followed the same pattern of moving lower on Monday instead of testing the 3-day filter.
There is a 5-day breakout on Monday therefore I can't see too much upside on Tuesday other than re-testing the break.
Until currencies are trading above their 3-day filter, at this stage it's best to wait for some confirming patterns for long set-ups.
no probability pattern on Tuesday.
Euro Weekly and 3-day patternSupport around the Weekly 50% levels along with Monday's lows.
Monday's re-test of the 5-day breakout didn't play out, and on Tuesday it's trade on the side of the blue filter with a bias to move upwards from support.
However, price is trading below both the March 50% level and tomorrow's April 50% levels.
Therefore Tuesday needs to move higher, and if Wednesday is going to continue higher, it should find support above the 3-day filter (tomorrow) and move UP into a higher Friday close.
GBP Weekly and 3-day patternGBP trading above the Weekly 50% level, but it's not a HOOK pattern.
Hook pattern needs to close above the Weekly 50% level along with the 5-day 50% level.
However Weekly 50% level is a random support zone along with price rising up from the 5-day lows on Monday.
3-day filter the trend guide...
Above the 3-day filter should move back towards the March 50% level, and then come back and retest the April 50% level tomorrow.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
