AUD Weekly and 5-day patternExpectation that price is heading down towards the February lows.
Because of the Friday close below the 5-day lows and previous weekly lows, I can't see this week starting with a 2-day UP move.
I would treat Friday's lows and the 5-day 50% level as resistance towards Monday's lows.
Euro Weekly and 5-day pattern
The same applies to the Euro....
I would treat Friday's 5-day lows as a trend guide, with the expectation price is moving towards Monday's lows.
Above 1.3903 is a random pattern, and I'm not sure if the Euro is going to move higher than the previous Weekly low @ 1.3973- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
