AUD Weekly and 5-day patternAs pointed out yesterday, there was an expectation of early selling pressure around the 3-day filter (minimum 41 points), but then I expected a short-term 'spike' upwards.
This played out, hitting the monthly BP and sending currencies down.
Expectation that AUD is heading down into the July 50% level.
Unless the AUD is trading around the 3-day filter on Wednesday, it's hard to get back into the trend.
Wednesday's 5-day lows:- random support
Euro Weekly and 5-day patternSame pattern and same expectation of heading down into July's 50% level, which matches the Weekly lows (3-week).
Trade on the side of the yellow and red filters
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
