AUD Monthly and Weekly..AUD will start the 3rd quarter below the higher timeframe 50% levels, with the Expectation price is pulling back into the July's 50% levels, which matches the Yearly 50% level and MAY high breakout.
Resistance:- Weekly 50% levels and around 80cents
AUD 5-day patternLast Week I was bullish, and the first 3-days of trading provided the UP moves, which I thought would have continued UP on Thursday....
Instead Thursday sold down providing a breakout of the 5-day lows and a Sell pattern Friday...
Retest the break and 5-day 50% level.
At this stage during any downtrend... I would focus on short trading around the 3-day filter levels:- minimum moves 41 pips.
Euro Weekly and Monthly
Same view as AUD, pulling back into July's 50% level.
Weekly 50% level resistance.
Euro 5-day patternI was bullish all last week, and most trading support levels played their part until Thursday's 3-day filter failed to rise:- 41 pips minimum.
I didn't see the down move coming because price was above the Weekly 50% level.
Thursday's breakout, provided the 'short' sell on Friday....
And I would expect that price should push down into the 5-day lows early next week...
Yellow filter trend guide.
