AUD Weekly and 5-day patternJuly 50% level support and price has moved back into the 5-day 50% level and stalled....
If AUD is going to go down, then the 3-day filter on Friday will push price down and below the brown filter and continue down towards Friday lows....
Otherwise, above Friday's 3-day filter and AUD is swinging back into next Week's 50% level
Euro Weekly and 5-day pattern I wasn't expecting the Euro to continue higher on Thursday, as I was expecting price to follow the move down into July's 50% level.
However once price closed above the Yellow filter on a 4 hour close, the downside move was open to risk.
At this stage, whilst above Friday's Yellow filter price can push up towards Friday's highs.
Trade on the side of the filter, or limit any short trading on Friday above that level.
Below Yellow and price stalling once again around the monthly BP and Weekly 50% level, I would look for a pullback on Friday towards the 3-day filter (red) @ 1.3936
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
