AUD Weekly and 5-day pattern
Thursday 11am selling in the first 4 hour period and 41 pip down move, and then the rest of the day consolidated.
Friday:- At this stage I would stick to trading on the side of the 5-day 50% level with the bias to push down into the Weekly 50% levels.
That will obviously change on any move above the 3-day filter on Friday
Euro Weekly and 5-day pattern
Thursday:- 5-day 50% level support back into Yellow filter, and then a stall around the same level @ 1.4230.
Friday:- Each way bet using the Yellow filter as a trend guide.
If price is trading below the Yellow filter and the 5-day 50% level, then the expectation is a move down into the Weekly 50% level (5-day lows).
Above the Yellow filter confirmed with a 4 hour close, would look to push back up into the Red filter
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
