AUD Weekly and 5-day pattern….
AUD looks range bound and consolidation into the end of this month.
Wednesday:- 5-day 50% level random resistance and probably another consolidating trading day
Euro Weekly and 5-day pattern
In any Weekly trend the 5-day 50% level is used as part of the continuation of the trend.
If it fails then the same level is used again the very next day.
The 5-day 50% level failed on Tuesday, and Tuesday has moved into a higher daily close…
At this stage I can’t see higher prices on the euro because the 3-day filter it still above the 5-day 50% level.
In that case:- 5-day 50% level and higher Daily open is viewed as resistance for a continuation down into Wednesday’s lows.
GBP Weekly and 5-day pattern
Consolidating around the midpoints.
No probability pattern until the end of the Month (Thursday)
