AUD Monthly and WeeklyExpectation of higher prices in April played out.
Currently AUD is trading around resistance, but looking at the Monthly pattern there is a breakout, therefore the expectation is to continue higher towards April highs.
If that is the case, then we should use the Weekly 50% levels as support:- trailing support
Therefore the Weekly 50% level is support, and whilst price is above the Quarterly 50% level the bias is to move higher.
Euro Monthly and Weekly
I expected higher prices this month especially with Thursday's rally....
In the short-term I still look for a move towards the Weekly highs using the Weekly 50% level as support.
Trend guide is simply the Quarterly balance point
GBP Monthly and Weekly
At this stage the bias is to move higher, but whilst trading around these monthly highs I would like to see some pullback within the 3-day pattern....
April and Quarterly balance point is the trend guide
- All Daily forex reports are written aftr 11.00am Sydney Time, which is approximately Midnight GMT
