AUD Weekly and 5-day pattern
AUD has rallied over 3 days back towards the monthly BP and stalled.
Normally 3 UP days in a row and the expectation of a 4th UP day in a row drops considerably unless price retests the 5-day 50% level...
Or in this case the Weekly 50% level.
But with a breakout of Wednesday's 5-day highs, Price can still continue higher on Thursday.
Trade on the side of the brown
Euro Weekly and 5-day pattern
I haven't had a view or ideal patterns on the euro because it failed to move down into the July 50% levels.
The 5-day pattern has been all over the place because price was choppy around the higher timeframe 50% levels.
I don't have a view on the Euro on Thursday...
Trade on the side of the Yellow...
either it continues up into Thursday's high.
Or drops back down into the 5-day 50% level and Weekly 50% level once again.
No probability pattern
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
