Weekly high reversal down into the 3-week 50% level should continue higher this week using the 3-week 50% level as support, which should also align with the 5-day 50% level.
That's not going to occur until USD index kicks over at midnight.
The only concern on this occuring is Friday's 5-day high, which normally leads to a 2-day reversal.
EURO Weekly and 5-day pattern
Currently supported at the 3-month 50% level in August
Trend guide 1.2844 (intra-day)
If above then around the 3-day high and 5-day 50% level becomes resistance, also based on the Weekly level at the same price, with a possible move down towards the Weekly lows.
This pattern has been optimised to the price action in the USD Index.
AUD Weekly and 5-day pattern
Stalled at the 3-day high (blue) and looking to continue up towards today's 3-day high, whilst above the 5-day 50% level.
But there are a number of weekly 50% level that can play a resistance role.
3-week low pattern support above the 3-month 50% level can often continue to move higher during the current month
