AUD Weekly and 5-day patternCurrencies followed the same patterns as most markets on Thursday:- up into MAY highs and reversal down.
Friday openning on the April highs:- Higher Daily open and I would expect to sell down towards the Weekly 50% level next week.
but Thursday has closed above the 5-day highs, which can push AUD higher on Friday.
Simply trade on the side of .7535
until it can break the 5-day 50% level.....
Euro Weekly and 5-day patternEuro going nowhere but up and down....
Friday:- trading above the 3-day filter would normally push the price up towards the 5-day highs on Friday.
This should be confirmed with price trading above 1.3347 during GMT hours...
So I would look for some 4 hour consolidation above this level to verify any higher moves.
This is based current price trading above the 3-day filter.
GBP Weekly and 5-day pattern5-day 50% level the trend guide...
no probability on direction, but the bias is to move towards next week's 50% levels
But it makes it hard to short a lower Daily open around the 5-day 50% levels
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
