Euro Weekly and 5-day pattern
Trading below the MAY lows along with a breakout of the previous weekly lows.
This has seen a retest of the breakouts and rejection of the Weekly 50% level this week, which in theory should continue down into the Weekly lows this week.
Yellow filter the trend guide.
AUD Weekly and 5-day pattern
Weekly low breakout and expectation that price is moving down into this week’s lows.
We have already seen the MAY 50% level resist price.
Currently Tuesday’s 5-day 50% level is supporting the trend.
If Wednesday is going to continue down then it needs to break the support levels.
Support:- 5-day 50% level and 3-day low (blue channel)
Trend guide Yellow filter @ 89.85
If above then Wednesday is seen as a random pattern (up day)
