AUD Weekly and 3-day patternAUD reversing down from April highs and Weekly highs with the expectation that price should continue down towards the Weekly 50% level.
Either AUD continues down from the 5-day 50% level...
or the 5-day 50% level pushes price upwards into the 3-day filter and then continues down.
Euro Weekly and 3-day patternThe Up trend should have bounced off the 5-day 50% level on Tuesday with a 4 hour low and then continued upwards in the next 4 hour perid and not break lower...
This aligned with the Weekly 50% level and continuation higher
At this stage the Euro is an each way bet around the 5-day 50% level on Wednesday.
Because Yesterday's failure to continue higher I don't have a view on the direction on Wednesday.
Because Yesterday's failure to continue higher I don't have a view on the direction on Wednesday.
GBP Weekly and 3-day patternResistance around the highs on Tuesday, but no follow through on the downside into the 5-day 50% level.
I still have the view that the move down should play out, but it looks like Wednesday could push up into the Weekly highs...
Weekly highs random resistance @ 1.4995
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
