AUD Weekly and 3-day pattern.
Same expectation as all week, trade on the side of the 3-day filter with the expectation of price moving back into support.
I’m not expecting an UP day, but limit shorting above the 5-day 50% level.
Euro Weekly 3-day pattern
Euro move down into the monthly balance point and found support.
My BUY level was the 5-day low, which didn’t hit.
Using the 5-day pattern there isn’t an ideal set-up to trade.
Therefore the rest of this week should be defined by the 5-Week 50% level @ 1.3225
At this stage I favour higher prices, but not below that level
GBP Weekly and 3-day pattern.
Still looking for a pullback into the Weekly 50% levels.
However, when the 3-day filter moves below the 5-day 50% level often there is an UP day during the US time zone.
If price had already found support around the Weekly 50% levels or 5-day lows, then this would set-up a continuation upwards.
But at this stage it’s too early to tell, simply because price hasn't tested support this week.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
