AUD Weekly and 5-day patternWeekly highs resistance and reversal down into 3-day lows, and also trading below the 5-day 50% levels.
Bearish pattern will need to see the 5-day 50% level on Friday reject the AUD down into Friday's lows and send the AUD in the Weekly 50% level.
Friday's 5-day lows are important, because if the S&P 500 begins to rise upwards on Friday, then could end up higher.
Therefore two patterns:- early rise into resistance and a push down into Friday's lows, if price breaks then it's going lower.
If AUD is still supported around Friday's lows during US timezone, then price can close around the 5-day 50% level or higher.
Euro Weekly and 5-day pattern...Sadly on my part the Weekly highs didn't reach on the Euro.
Same expectation on the Euro:- 5-day 50% level resistance.
However, if it's not breaking Friday's 5-day lows and the S&P 500 moves up on Friday, then the Euro can break the 5-day 50% level and close higher:- Weekly 50% level support.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
