AUD Weekly and 5-day pattern.
Thursday into the 5-day lows and reversal back into the 5-day 50% level
As pointed out yesterday:- higher Thursday close and expectation that a higher Friday open should sell down into the Weekly 50% level.
If that’s the case I wouldn’t expect the AUD to remain above the 3-day filter for too long.
Limit shorting above the Yellow Filter
Euro Weekly and 3-day pattern.
What to make of the Euro?
Yesterday rose up from the 5-day 50% level and into a higher close.
Today’s it’s about trading on the side of the 3-day filter and the 5-day 50% level.
Below and it’s down into the 5-day lows, which could hold or break.
Above the 3-day filter and it’s fulfilling it’s MAY highs.
I don’t favour either direction, but slightly leaning to shorting the euro using 4 hour patterns.
GBP Weekly and 5-day pattern…
Same same, trade on the side of the 5-day 50% level
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
