AUD Weekly and 5-day patternAUD stalled around the Weekly highs...
At this stage Thursday is simply about whether AUD will continue higher this week, or begin to pullback towards Next Week's 50% level (5-day lows)
We saw the 5-day 50% level support price, and if AUD is going to go higher then it will find support above the 3-day filter and continue towards Thursday's high.
A reversal pattern this week, should in theory begin from the 3-day filter and sell down....
No probability on direction, trade on the side of the 3-day filter
Euro Weekly and 5-day patternEarly consolidation around the levels on Wednesday moving in 41 pip waves, and then popping upwards, but failing to close above the Weekly highs.
Based on the 5-day pattern and the filters, I don't have a probability pattern at this stage for an ideal entry on Thursday.
Based on the Weekly pattern, I would think that price has failed to break the Weekly highs and is trying to move back down into the Monthly BP levels, or next Weeks Weekly 50% level:- Support
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
