USD Futures and 5-day patternAs per Weekly report there was a potential UP move early this week, and this UP move could continue higher into Friday.
However, Monday's UP move has once again stalled at the August 50% level and the 5-day highs.
Therefore it's too early to tell whether the Index will continue higher, and based on Monday's price action I have to view Tuesday as a 'stalling' day between both the monhtly and Weekly 50% levels, until one of them breaks.
AUD Weekly and 5-day patternBecause of the USD index and price action in the AUD, Tuesday has a bias to move UP and back into the 3-day filter.
3-day filter is the trend guide:- no probability pattern on whether it resists price or breaks
Euro and 5-day patternEuro is much more bearish because of price trading below the Weekly 50% level
Tuesday:- no probability pattern.
3-day filter trend guide range resistance
I can only get bullish on the euro if there is a Daily HOOK pattern over the Weekly 50% level and 5-day 50% level on Tuesday, and the USD Index closes back under the Weekly 50% level.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
