AUD weekly and 5-day patternAUD trading above higher timeframe support levels, but below the 3-day cycle highs and the 50% levels and spiral filters.
This week reminds me of a consolidating trading week, where price rises upwards closing above the 3-day highs but then reversing back down later in the week or early next week (consolidating 5-day range)
However, based on the spiral filters it doesn't favour going higher but more rotation on Tuesday.
Today the % rate announcement comes out @ 2.30pm, so it will push the AUD around.
Euro Weekly and spiral pattern
Above the higher timeframe support levels, but on Tuesday it doesn't favour going higher because of the spiral filters.
If Euro closes or trading below 1.4754 on Tuesday, this could result in a push downward into the 3-week lows.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
