AUD Weekly and 3-day pattern.
AUD continuing down into the April 50% level and Weekly lows.
The sell-off started with the 3-day filter and confirmed with the 5-day low breakout on Monday.
Normally price moves back into the 5-day break and 5-day 50% level and then continues down, but I’d be surprise to see price above the Weekly 50% level @ .7028 without hitting the 5-day lows first.
Euro Weekly and 3-day pattern
Friday’s close is bearish on the Euro with the expectation price is moving down.
This has pushed the Euro down into the Weekly lows and the 5-day lows, and could easily continue down on Tuesday.
I would still like to find an ideal ‘short & hold’ set-up, and that won’t occur unless price is trading around the 3-day filter (red).
No probability pattern on Tuesday:- trend guide Yellow filter
GBP Weekly and 3-day pattern
Had the same view of a push down on Monday, but the set-up didn’t play out with a move into the 3-day filter.
We have the same view as the AUD of a 5-day breakout and push down into April 50% level.
Blue filter trend guide @ 1.4599
Resistance the 5-day 50% level and the breakout on Monday @ 1/4675
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
