AUD Weekly and 5-day patternAUD trading above last week's 3-week highs and there is a potential to continue towards this week's highs...
However, the price action currently is sideways and rotating in 85 point waves.
No probability pattern for Thursday.
Euro Weekly and 5-day pattern
After 3-days of trying to breakout above the Monthly 50% level, I would think that either Thursday is going to be the day, as the USD index breaks and trades below support.
However, a matching 5-day high around resistance, can lead to a weekly reversal pattern and lower Weekly close.
Currently the Euro is rotating in 85 point ranges, but also the same Weekly highs, as further selling could result from the price being below the 5-day 50% level on Thursday.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
