AUD Weekly and 3-day pattern.
Higher daily open and 3-day filter sell off breaking the 5-day 50% level.
Expectation price is heading down into the Weekly 50% level @ 7448, and the move to continue down towards 7170 in MAY.
Thursday:- 5-day 50% level resistance and down into Thursday’s lows, which goes close to matching the Weekly 50% level.
Thursday’s lows could support AUD and have a higher Daily close, but under the 5-day 50% level.
If that happens then We should look to short trade again a higher daily open on Friday.
Euro Weekly and 3-day pattern.
I really wanted the Euro to complete those monthly and Weekly highs on Wednesday, instead the euro has followed the same patterns as most global markets and reverses down.
Price isn’t trading below the 5-day 50% level, but there is an expectation that the Euro is heading back into the Weekly 50% level @ 1.3389.
But there is no probability pattern set-up to trade the euro on Thursday.
GBP Weekly and 5-day pattern
Reversal down and break of the 5-day 50% level…
Expectation that Thursday’s 5-day 50% level should push GBP down towards the Weekly 50% level
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
