AUD Weekly and 5-day patternCurrencies opening below the monthly balance points and selling down into November 50% levels.
The price action this week will be dependant these 50% levels, therefore any upside this week will only confirmed with Weekly HOOK patterns back above support levels.
Weekly HOOK:- early push down on Monday
And Tuesday normally swings upwards the closes above the Weekly 50% level and 5-DAY 50% LEVELS, resulting in a higher weekly close.
An UP move is also can be confirmed once above the 5-day 50% levels, but At this stage they are not.
Otherwise the trend is down (Weekly bar has a downward bias towards the Weekly lows
Euro Weekly and spiral filterEuro lower open and below the monthly balance point with the bias to move down.
Spiral filter favours a higher move.
At this stage Monday's 5-day 50% level is the trend guide.
GBP Weekly and 5-day patternYou know my view on GBP (Weekly report), but it needs to be trading above the 5-day 50% level for a move back towards the 3-day cycle highs.
If price can't then it's pushing down into the 5-day lows
Exact levels shown for current day aren't confirmed until midnight GMT
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
