AUD Weekly and 5-day patternCurrently price is trading below the lesser timeframe 50% levels, but there are larger timeframe patterns that still favours higher prices in December (read Weekly Report).
However, until price is above the lesser timeframe 50% levels it's hard to favour further gains, as Tuesday can easily continue lower
Euro Weekly and 5-day pattern
Euro has moved down into the Weekly lows and December 50% levels, and as pointed out in the Weekly report, for any UP moves to play out a Daily HOOK pattern back above 1.4934 needs to occur.
At this stage i'm not sure whether this is a 1-day support level that ends up heading lower the next day, or Tuesday HOOKS back above.
for intra-day traders the pink filter is the trend guide
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
