AUD Weekly and 5-day pattern
I wasn't expecting yesterday's down move, simply because price was trading above the Weekly 50% level and monthly BP....
However, I knew not to trade longs below the Yellow Filter.
Friday:- There is a 5-day breakout....
Price can move down into Firday's lows and then swing up early next week to retest the breakout....
Or price slowly climbs upwards into the 5-day 50% level and sells down early next week, using the Weekly 50% level as resistance.
EURO Weekly
4 hour failure on the 3-day filter, resulting in a down move and 5-day breakout.
Friday:- either price continues down into Friday's lows, and then swings up early next week...
or moves up into the break and 3-day filter, and sells down next week:- Weekly 50% level resistance
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
