AUD Weekly and 3-day pattern.
AUD back into 7670 and I expected more selling on Tuesday, instead price is trading around resistance once again.
Wednesday is a higher Daily open, which might help the AUD move down, but unless its trading below the 5-day 50% level (3-day filter resistance @ 7692)
AUD can move higher.
At this stage I’m trading view the view AUD is reverting back into the Weekly 50% level.
High Risk longs above the 3-day filter
Euro Weekly and 3-day pattern.
Yesterday I was looking for selling pressure using the Yellow filter, but now Euro is following its monthly pattern in the MAY highs @ 1.3789.
Wednesday is about trading on the side of the 3-day filter (red) until it gets to those highs.
Once around the MAY highs, then Wednesday needs to be defined by the 3-day filter
GBP Weekly and 5-day pattern
5-day 50% level support on Tuesday but resistance within the 5-day pattern failed and price has continued towards the Weekly highs
Weekly and 5-day highs on Wednesday resistance:
5-day 50% level trend guide
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
