Euro Weekly and 5-day patternEuro continues the downtrend with the expected move towards the 2nd Quarter lows in April.
The move down from the 5-day 50% level and breakout on Thursday should continue to move down into the Friday lows and Weekly lows.
2 patterns on Friday.....
1. Friday continues with the trend breaking those lows, as price moves towards the March lows
2. Friday and Weekly lows support price and a swing back towards the 5-day 50% level and Weekly 50% level.
A continuation of the down trend shouldn't break those levels, and head lower next week.
AUD Weekly and 5-day patternThe most robust set-up for the trend to continue higher would be a move back to next week's 50% level and then continue higher next week.
However, based on the 5-day range, Friday looks like it could remain between the highs and the 5-day 50% level.
No probability pattern
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
