Euro Weekly and 5-day pattern
Euro completing the 3-month break and extend pattern from January's lows into April's lows.
Once that completes I would be looking for a large counter-trend move back towards the 3-month 50% levels in MAY....
However, that price action doesn't favour Tuesday's 5-day's breakout...
As the trend should continue down into the Daily lows on Wednesday.
Ideally Friday's close will help verify whether a swing pattern will take place from next week
AUD Weekly and 5-day pattern2-day sell off into the 3-week lows....
There is a 5-day pattern breakout, which in theory should continue down on Wednesday..
Two possible patterns for this week...
#1 continues to trend down into a lower Friday close towards the April 50% level
#2 Weekly low support & a short-term counter-trend move upwards and then another down move into the Weekly lows next week, which coincide with the MAY 50% levels.
Note:- As you are aware from my previous AUD reports:- I'm bullish in the 2nd Quarter but I would like to see the trend test the 3-month 50% levels first, and this is happening now
