AUD Weekly and 5-day patternMonday continued higher after early resistance around the 3-day filter and 4 hour push down.
3-day filter random resistance .7455
With the AUD already trading around the Weekly highs, it makes it hard to trade longs unless price comes down into support.
no probability pattern on Tuesday
As mentioned in the Weekly Report:- Weekly highs resistance, but at this stage it's too early to tell whether prices will reverse down.
Euro Weekly and 5-day pattern
Expecting higher prices on Monday, with the 3-day filter to support the market with a 4 hour low and continue towards Monday’s highs.
Instead price moved down into the Monthly balance point and 5-day 50% level and then continued towards Monday’s highs.
Tuesday:- no probability pattern
Random resistance:- the Weekly highs.
Limit shorting above 1.3407
As price could continue towards the Monthly highs @ 1.3587 this week.
But I would concentrate on 4 hour patterns on Tuesday.
GBP Weekly and 5-day patternExpectation of higher prices, but GBP followed the same pattern early on Monday pushing down before continuing higher late in the day.
Expectation that GBP is moving towards Tuesday’s highs.
Use levels shown in the 5-day pattern.
Weekly highs Random resistance.
- All Daily forex reports are written after 11.00am Sydney Time, which is approximately Midnight GMT
