AUD Monthly and WeeklyExpectation that AUD would stall and move back towards the April 50% level.
Hopefully next week's 50% level will set up a move towards the Weekly highs
At this stage my view is that currencies should find support around the weekly 50% levels and make a Weekly UP move upwards
After that occurs, I can't discount a reversal back down back under the April 50% levels.
Currencies haven't reached their Yearly lows, and that is the only reason why we need to respect the Primary Trends.
If price is below the April Quarterly balance points, then the trend continues down
Euro Monthly and Weekly
Weekly pullback has played out, and this should set-up a lower Weekly open from support and a push higher this week into the Weekly highs.
After that occurs, it may or may not contiuue upwards, because I feel that Price will come back and retest the April 50% level.
If it breaks the April 50% levels, then the trend is going down.
Basically we want to be trading longs next week, but once price reaches those highs, and ideally a higher Weekly open the week after that.....
We should be short trading the 3-day filters and holding short position back into the April 50% levels.
GBP Monthly and WeeklyLast week I was bullish on GBP for a move towards the March highs, but once Tuesday failed to continue the breakout (5-day high), the view was for GBP to move lower (below the 3-day filter).
Next Week I have the same view as other currencies...BUY support
But we can see how critical price is in regards to the Quarterly balance points.
It won't take much from Wednesday (1st April) onwards for Price be trading below the Quarterly balance points.
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
