Euro Weekly and 5-day patternBearish on the Euro, and the Weekly 50% level should send price down towards the Weekly lows and March lows....
If that price action takes place price shouldn't rise higher than the 5-day 50% level or blue channel (3-day highs).
Two possible patterns...
1. moves down early on Tuesday into the Yellow filter and then continues upwards into the 5-day 50% level.
2. continues upwards on Monday into the 5-day 50% level and Weekly 50% level and reverses back down into the Yellow filter.
Note:- don't short trade above the blue channel high, as price can swing back towards the 3-day cycle highs (White)
AUD Weekly and 5-day patternBullish pattern should continue higher from the Weekly 50% level towards the Weekly highs this week...
but not unless there is a 4 hour close above the Yellow filter
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
