AUD Weekly and 3-day pattern.
Monthly highs resistance and Thursday’s sell-off.
There is still the expectation that price is moving back towards the Weekly 50% level.
If that’s the expectation then price should continue down from the 5-day 50% level into Friday’s lows.
Euro Weekly and 3-day pattern
The Euro has been extremely disappointing this week.
Monday’s rally was spot on, but Tuesday should have continued higher.
Once the 5-day 50% level failed to continue higher on Tuesday, price has just moved into a Weekly consolidation pattern.
There is still a lot of support around 1.3150, but…
For the day trader there is No probability pattern on Friday
GBP Weekly and 3-day pattern
Expectation of higher prices on Thursday didn’t play out with the 5-day break out from Wednesday.
The 4 hour low @ 1.4984 failed to hold.
No probability pattern for Friday.
However, the 3-day low @ is a random support zone, that needs to be verified with a 4 hour low
If price pushes down early on Friday, it could swing back towards 1.4966 and as high as the 3-day filter.
3-day filter random resistance.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
