AUD Weekly and 5-day pattern2-day UP move completed from the Weekly open, but there is a 5-day high breakout that should see another 84 pip up move complete on Wednesday.
Expectation is a move towards the October highs, but the 5-day highs on Wednesday are a random resistance zone.
Euro Weekly and 5-day patternEuro has followed the same pattern and expectation is that price is heading towards the October highs.
There is a 5-day high breakout on Tuesday, so price should push up on Wednesday.
The 3-day filter is the trend Guide.
normally when the 3-day cycle breaks I would look for a 2-day stall or reversal and then continue higher later, however because of the 5-day high breakout, that might not happen on Wednesday.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
